Ashford Capital Management Inc. Makes New $856,000 Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Ashford Capital Management Inc. acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 128,571 shares of the company's stock, valued at approximately $856,000. Ashford Capital Management Inc. owned 0.10% of Powerfleet at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AIOT. Financial Management Professionals Inc. acquired a new stake in shares of Powerfleet during the 4th quarter worth about $50,000. SG Americas Securities LLC acquired a new position in shares of Powerfleet in the fourth quarter valued at approximately $228,000. Inspire Investing LLC bought a new position in shares of Powerfleet during the fourth quarter worth approximately $398,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Powerfleet in the 4th quarter valued at $11,034,000. Finally, Spire Wealth Management acquired a new position in Powerfleet in the 4th quarter valued at $55,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AIOT shares. Barrington Research reaffirmed an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a research report on Friday. Raymond James cut their target price on 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 boosted their price target on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Northland Securities raised 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $11.25.

Powerfleet Stock Down 14.4%

NASDAQ:AIOT traded down $0.81 on Friday, hitting $4.82. The company had a trading volume of 6,872,218 shares, compared to its average volume of 1,528,105. Powerfleet, Inc. has a 52 week low of $3.70 and a 52 week high of $8.71. 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 firm has a 50 day moving average of $5.25 and a two-hundred day moving average of $6.10.

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.