Bosun Asset Management LLC Purchases New Position in Powerfleet, Inc. (NASDAQ:AIOT)

Bosun Asset Management LLC acquired a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 62,266 shares of the company's stock, valued at approximately $415,000.

Other hedge funds also recently modified their holdings of the company. Kopion Asset Management LLC purchased a new stake in shares of Powerfleet in the fourth quarter valued at about $7,361,000. Yarbrough Capital LLC purchased a new stake in shares of Powerfleet during the fourth quarter valued at approximately $372,000. Financial Management Professionals Inc. bought a new stake in Powerfleet during the fourth quarter worth $50,000. SG Americas Securities LLC purchased a new position in Powerfleet in the fourth quarter worth $228,000. Finally, Inspire Investing LLC bought a new position in Powerfleet in the 4th quarter valued at $398,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Powerfleet Trading Down 1.2 %

NASDAQ AIOT opened at $5.02 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The company's 50 day moving average is $5.37 and its 200-day moving average is $6.06. Powerfleet, Inc. has a 12-month low of $3.70 and a 12-month high of $8.71.

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

Analysts Set New Price Targets

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

About Powerfleet

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.

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