325 Capital LLC Buys Shares of 3,714,285 Powerfleet, Inc. (NASDAQ:AIOT)

325 Capital LLC bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,714,285 shares of the company's stock, valued at approximately $24,737,000. Powerfleet accounts for approximately 9.6% of 325 Capital LLC's investment portfolio, making the stock its 6th biggest holding. 325 Capital LLC owned 2.81% of Powerfleet as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Manatuck Hill Partners LLC purchased a new stake in shares of Powerfleet in the 4th quarter valued at $2,589,000. Comerica Bank purchased a new stake in Powerfleet in the fourth quarter valued at $42,000. Northern Trust Corp acquired a new stake in Powerfleet during the 4th quarter worth about $5,776,000. The Manufacturers Life Insurance Company purchased a new position in shares of Powerfleet during the 4th quarter valued at about $219,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Powerfleet in the 4th quarter valued at about $484,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on AIOT shares. 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. Northland Securities lifted their target price on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Raymond James lowered their price target on shares of Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, Barrington Research reissued an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a research note on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $11.25.

Powerfleet Trading Up 3.0 %

AIOT traded up $0.15 during midday trading on Friday, hitting $5.15. 1,479,007 shares of the company traded hands, compared to its average volume of 1,512,642. The business has a 50 day simple moving average of $5.45 and a two-hundred day simple moving average of $6.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. Powerfleet, Inc. has a 52-week low of $3.70 and a 52-week high of $8.71.

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