Ardsley Advisory Partners LP Takes $666,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

Ardsley Advisory Partners LP acquired a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the company's stock, valued at approximately $666,000. Ardsley Advisory Partners LP owned about 0.08% of Powerfleet as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC purchased a new position in Powerfleet in the 4th quarter valued at approximately $25,000. Comerica Bank purchased a new stake in Powerfleet during the 4th quarter worth about $42,000. Financial Management Professionals Inc. bought a new stake in shares of Powerfleet during the fourth quarter valued at about $50,000. Spire Wealth Management purchased a new stake in shares of Powerfleet in the fourth quarter worth about $55,000. Finally, Legal & General Group Plc bought a new stake in Powerfleet during the 4th quarter worth approximately $58,000. 73.40% of the stock is currently owned by institutional investors.

Powerfleet Stock Performance

Shares of AIOT traded down $0.06 during mid-day trading on Tuesday, reaching $5.02. The company's stock had a trading volume of 1,299,411 shares, compared to its average volume of 1,508,008. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a 52 week low of $3.70 and a 52 week high of $8.71. The company's fifty day moving average price is $5.41 and its two-hundred day moving average price is $6.07.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AIOT shares. Raymond James reduced their price target on shares of Powerfleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Lake Street Capital raised their price target on Powerfleet from $7.00 to $11.00 and gave the company 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 report on Thursday, February 13th. Finally, 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 research report on Tuesday, February 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $11.25.

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.