860,000 Shares in PowerFleet, Inc. $AIOT Acquired by AYAL Capital Advisors Ltd

Key Points

• AYAL Capital Advisors Ltd has purchased 860,000 shares of PowerFleet, valued at approximately $4.7 million, marking it as the 19th largest position in their investment portfolio.
• PowerFleet's stock has experienced fluctuations, with a 12-month low of $3.70 and a high of $8.71, and recent analysts have given it mixed ratings, with some recommending a "buy" and others a "sell."
• Insider buying was noted as both the Director and CEO made significant acquisitions of shares, indicating confidence in the company's prospects.

AYAL Capital Advisors Ltd acquired a new position in shares of PowerFleet, Inc. (NASDAQ:AIOT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 860,000 shares of the company's stock, valued at approximately $4,721,000. PowerFleet accounts for approximately 1.6% of AYAL Capital Advisors Ltd's portfolio, making the stock its 19th largest position. AYAL Capital Advisors Ltd owned approximately 0.65% of PowerFleet as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in PowerFleet during the first quarter worth $172,000. The Manufacturers Life Insurance Company acquired a new stake in PowerFleet in the fourth quarter valued at $219,000. Bank of America Corp DE acquired a new stake in PowerFleet in the fourth quarter valued at $1,487,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in PowerFleet in the fourth quarter valued at $360,000. Finally, BNP Paribas Financial Markets acquired a new stake in PowerFleet in the fourth quarter valued at $86,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AIOT. Zacks Research lowered PowerFleet from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Lake Street Capital set a $8.00 target price on PowerFleet and gave the company a "buy" rating in a report on Tuesday, May 27th. Barrington Research reissued an "outperform" rating and issued a $15.00 target price on shares of PowerFleet in a report on Friday, August 22nd. Finally, Wall Street Zen lowered PowerFleet from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.50.

PowerFleet Trading Down 1.3%

Shares of NASDAQ AIOT traded down $0.07 during midday trading on Monday, hitting $4.96. The stock had a trading volume of 805,918 shares, compared to its average volume of 1,931,732. The company has a market capitalization of $661.20 million, a price-to-earnings ratio of -16.55 and a beta of 1.28. PowerFleet, Inc. has a 1-year low of $3.70 and a 1-year high of $8.71. The company has a quick ratio of 0.92, a current ratio of 1.07 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average price of $4.40 and a 200 day moving average price of $4.99.

Insider Activity

In related news, CEO Steven Mark Towe bought 23,157 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $4.42 per share, with a total value of $102,353.94. Following the completion of the transaction, the chief executive officer directly owned 2,457,923 shares of the company's stock, valued at approximately $10,864,019.66. This represents a 0.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Mcconnell bought 10,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $4.64 per share, with a total value of $46,400.00. Following the transaction, the director directly owned 28,028 shares of the company's stock, valued at approximately $130,049.92. This trade represents a 55.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 6.30% of the company's stock.

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.