AWM Investment Company Inc. Makes New $31 Million Investment in Powerfleet, Inc. (NASDAQ:AIOT)

AWM Investment Company Inc. acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,654,617 shares of the company's stock, valued at approximately $31,000,000. Powerfleet comprises about 3.8% of AWM Investment Company Inc.'s investment portfolio, making the stock its 3rd largest position. AWM Investment Company Inc. owned approximately 3.52% of Powerfleet as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new stake in shares of Powerfleet in the fourth quarter valued at $25,000. Comerica Bank purchased a new position in shares of Powerfleet during the fourth quarter valued at approximately $42,000. Spire Wealth Management purchased a new stake in Powerfleet in the 4th quarter worth approximately $55,000. Legal & General Group Plc acquired a new position in Powerfleet in the 4th quarter valued at $58,000. Finally, Summit Investment Advisors Inc. purchased a new position in shares of Powerfleet during the 4th quarter worth $59,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Powerfleet Trading Down 14.4%

AIOT stock traded down $0.81 during trading hours on Monday, hitting $4.82. 6,872,218 shares of the stock traded hands, compared to its average volume of 1,528,105. The stock has a 50-day simple moving average of $5.25 and a 200 day simple moving average of $6.11. Powerfleet, Inc. has a one year low of $3.70 and a one year high of $8.71. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Lake Street Capital increased their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Raymond James dropped 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. Northland Securities boosted their price target on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Finally, Barrington Research restated an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a research note on Friday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Powerfleet presently 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.