Squarepoint Ops LLC Grows Stock Position in PowerFleet, Inc. $AIOT

Squarepoint Ops LLC grew its position in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 39.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 494,646 shares of the company’s stock after buying an additional 139,847 shares during the period. Squarepoint Ops LLC owned 0.37% of PowerFleet worth $2,132,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP bought a new stake in PowerFleet in the 2nd quarter valued at about $6,426,000. Tidal Investments LLC increased its stake in shares of PowerFleet by 23.5% in the second quarter. Tidal Investments LLC now owns 120,973 shares of the company’s stock worth $521,000 after purchasing an additional 22,998 shares in the last quarter. Oxford Asset Management LLP bought a new stake in shares of PowerFleet in the second quarter valued at approximately $81,000. BNP Paribas Financial Markets lifted its stake in shares of PowerFleet by 100.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after buying an additional 5,904 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in PowerFleet by 52.8% in the 2nd quarter. Bank of America Corp DE now owns 687,960 shares of the company’s stock worth $2,965,000 after buying an additional 237,870 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

PowerFleet Price Performance

NASDAQ:AIOT opened at $5.17 on Friday. PowerFleet, Inc. has a 52-week low of $3.70 and a 52-week high of $8.71. The stock has a fifty day moving average of $5.05 and a 200 day moving average of $4.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 1.07. The firm has a market capitalization of $691.85 million, a price-to-earnings ratio of -16.68 and a beta of 1.35.

PowerFleet (NASDAQ:AIOT) last announced its earnings results on Monday, November 10th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $111.68 million for the quarter, compared to analyst estimates of $105.51 million. PowerFleet had a negative return on equity of 9.00% and a negative net margin of 9.70%. On average, research analysts expect that PowerFleet, Inc. will post -0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

AIOT has been the topic of a number of analyst reports. William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Zacks Research upgraded PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of PowerFleet in a report on Wednesday, October 8th. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research report on Wednesday, November 26th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

PowerFleet Profile

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.