Maridea Wealth Management LLC Sells 3,688 Shares of PowerFleet, Inc. (NASDAQ:AIOT)

Maridea Wealth Management LLC decreased its holdings in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 17.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,397 shares of the company’s stock after selling 3,688 shares during the period. Maridea Wealth Management LLC’s holdings in PowerFleet were worth $96,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AIOT. HighTower Advisors LLC bought a new stake in PowerFleet during the fourth quarter worth about $84,000. Sei Investments Co. bought a new stake in PowerFleet during the fourth quarter worth about $813,000. LPL Financial LLC bought a new stake in PowerFleet during the fourth quarter worth about $398,000. Vanguard Group Inc. bought a new stake in PowerFleet during the fourth quarter worth about $43,134,000. Finally, Corebridge Financial Inc. bought a new stake in PowerFleet during the fourth quarter worth about $313,000. Institutional investors own 73.40% of the company’s stock.

Analysts Set New Price Targets

AIOT has been the subject of several research analyst reports. Raymond James Financial dropped their price target on PowerFleet from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Lake Street Capital set a $8.00 price target on PowerFleet and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research note on Friday, June 13th. Finally, Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

PowerFleet Stock Down 2.0%

AIOT opened at $4.48 on Tuesday. The company has a market cap of $597.50 million, a P/E ratio of -10.42 and a beta of 1.32. The business’s 50-day moving average price is $4.61 and its 200-day moving average price is $5.45. The company has a current ratio of 1.12, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. PowerFleet, Inc. has a 12 month low of $3.70 and a 12 month high of $8.71.

PowerFleet Company 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.