Voss Capital LP Takes Position in Powerfleet, Inc. (NASDAQ:AIOT)

Voss Capital LP acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,933,592 shares of the company's stock, valued at approximately $12,878,000. Powerfleet comprises 1.0% of Voss Capital LP's investment portfolio, making the stock its 23rd biggest holding. Voss Capital LP owned about 1.46% of Powerfleet as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Signaturefd LLC bought a new stake in shares of Powerfleet during the fourth quarter worth approximately $25,000. Financial Management Professionals Inc. bought a new stake in shares of Powerfleet during the 4th quarter valued at $50,000. Spire Wealth Management acquired a new position in shares of Powerfleet in the 4th quarter valued at $55,000. Legal & General Group Plc bought a new position in shares of Powerfleet in the 4th quarter worth $58,000. Finally, Summit Investment Advisors Inc. bought a new stake in Powerfleet in the fourth quarter valued at about $59,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Lake Street Capital raised their target price on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Barrington Research reissued an "outperform" rating and set a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th. Finally, Northland Securities upped their target price on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th.

Powerfleet Price Performance

Shares of NASDAQ AIOT traded down $0.01 during mid-day trading on Friday, reaching $5.12. 785,938 shares of the company's stock were exchanged, compared to its average volume of 1,527,982. Powerfleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $5.70 and a 200 day simple moving average of $6.08.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, equities research analysts expect that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

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.