Ancora Advisors LLC Purchases Shares of 528,304 Powerfleet, Inc. (NASDAQ:AIOT)

Ancora Advisors LLC acquired a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 528,304 shares of the company's stock, valued at approximately $3,519,000. Ancora Advisors LLC owned about 0.40% of Powerfleet at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AIOT. ArrowMark Colorado Holdings LLC purchased a new stake in Powerfleet during the 4th quarter valued at about $118,000. Ardsley Advisory Partners LP purchased a new position in Powerfleet in the 4th quarter worth approximately $666,000. 325 Capital LLC purchased a new stake in Powerfleet during the 4th quarter valued at $24,737,000. Manatuck Hill Partners LLC bought a new stake in shares of Powerfleet in the 4th quarter worth $2,589,000. Finally, Comerica Bank purchased a new position in shares of Powerfleet in the fourth quarter worth $42,000. 73.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James reduced their price objective on Powerfleet from $10.00 to $8.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Barrington Research restated an "outperform" rating and set a $15.00 price objective on shares of Powerfleet in a research report on Thursday, February 13th. Northland Securities boosted 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. Finally, Lake Street Capital raised their price target on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $11.25.

Powerfleet Trading Up 1.9 %

AIOT traded up $0.10 during trading on Friday, hitting $5.31. The company's stock had a trading volume of 836,870 shares, compared to its average volume of 1,505,650. Powerfleet, Inc. has a one year low of $3.70 and a one year high of $8.71. The business's 50 day simple moving average is $5.31 and its 200-day simple moving average is $6.05. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings results 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). On average, analysts predict 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.