AYAL Capital Advisors Ltd Invests $4.72 Million in PowerFleet, Inc. $AIOT

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 bought a new stake in PowerFleet, Inc. (NASDAQ:AIOT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 860,000 shares of the company's stock, valued at approximately $4,721,000. PowerFleet comprises 1.6% of AYAL Capital Advisors Ltd's portfolio, making the stock its 19th largest position. AYAL Capital Advisors Ltd owned about 0.65% of PowerFleet at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank bought a new position in PowerFleet in the fourth quarter valued at about $42,000. NBC Securities Inc. bought a new position in PowerFleet in the first quarter valued at about $36,000. California State Teachers Retirement System bought a new position in PowerFleet in the fourth quarter valued at about $46,000. GAMMA Investing LLC bought a new position in PowerFleet in the first quarter valued at about $46,000. Finally, Hsbc Holdings PLC bought a new position in PowerFleet in the fourth quarter valued at about $75,000. Institutional investors own 73.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen cut PowerFleet from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Barrington Research restated an "outperform" rating and set a $15.00 price target on shares of PowerFleet in a report on Friday, August 22nd. Lake Street Capital set a $8.00 price target on PowerFleet and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Zacks Research cut PowerFleet from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.50.

Insider Activity at PowerFleet

In related news, Director Michael J. Mcconnell bought 10,000 shares of PowerFleet stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $4.64 per share, for a total transaction of $46,400.00. Following the completion of the acquisition, the director directly owned 28,028 shares of the company's stock, valued at approximately $130,049.92. The trade was a 55.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven Mark Towe bought 23,157 shares of PowerFleet stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $4.42 per share, for a total transaction of $102,353.94. Following the completion of the acquisition, the chief executive officer directly owned 2,457,923 shares of the company's stock, valued at $10,864,019.66. The trade was a 0.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 6.30% of the company's stock.

PowerFleet Trading Up 12.3%

AIOT stock traded up $0.55 during trading on Friday, hitting $5.02. The company had a trading volume of 3,398,299 shares, compared to its average volume of 1,704,639. The business has a 50-day moving average of $4.40 and a 200-day moving average of $5.01. PowerFleet, Inc. has a one year low of $3.70 and a one year high of $8.71. The stock has a market cap of $669.87 million, a PE ratio of -16.73 and a beta of 1.28. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51.

PowerFleet Company 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.