CenterBook Partners LP Has $17.42 Million Holdings in PowerFleet, Inc. $AIOT

CenterBook Partners LP boosted its position in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 40.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,040,568 shares of the company’s stock after buying an additional 1,162,742 shares during the period. PowerFleet makes up approximately 1.0% of CenterBook Partners LP’s investment portfolio, making the stock its 18th largest position. CenterBook Partners LP owned about 3.03% of PowerFleet worth $17,415,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in shares of PowerFleet by 39.6% during the 2nd quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock worth $55,000 after acquiring an additional 3,620 shares during the period. Virtu Financial LLC acquired a new position in PowerFleet during the first quarter valued at approximately $62,000. Landscape Capital Management L.L.C. acquired a new stake in shares of PowerFleet in the 1st quarter valued at $78,000. ProShare Advisors LLC increased its stake in shares of PowerFleet by 17.7% in the 2nd quarter. ProShare Advisors LLC now owns 25,489 shares of the company’s stock valued at $110,000 after purchasing an additional 3,833 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of PowerFleet in the 2nd quarter valued at $119,000. 73.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on AIOT. Wall Street Zen lowered PowerFleet from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd. William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Barrington Research reiterated an “outperform” rating and set a $15.00 price objective on shares of PowerFleet in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

PowerFleet Stock Performance

NASDAQ:AIOT opened at $4.45 on Friday. The stock’s 50-day moving average is $5.13 and its 200-day moving average is $4.83. PowerFleet, Inc. has a 1-year low of $3.70 and a 1-year high of $8.71. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51. The stock has a market cap of $595.52 million, a P/E ratio of -14.83 and a beta of 1.35.

PowerFleet (NASDAQ:AIOT) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. PowerFleet had a negative net margin of 9.95% and a negative return on equity of 8.56%. The business had revenue of $111.68 million during the quarter, compared to analyst estimates of $105.51 million. PowerFleet has set its FY 2025 guidance at EPS. FY 2026 guidance at EPS. Equities research analysts anticipate that PowerFleet, Inc. will post -0.32 earnings per share for the current year.

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.