Kopion Asset Management LLC Lowers Stake in Powerfleet, Inc. (NASDAQ:AIOT)

Kopion Asset Management LLC cut its stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) by 30.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 769,774 shares of the company's stock after selling 335,431 shares during the period. Powerfleet accounts for approximately 3.3% of Kopion Asset Management LLC's portfolio, making the stock its 16th largest position. Kopion Asset Management LLC owned 0.58% of Powerfleet worth $4,226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AIOT. Private Capital Management LLC bought a new stake in shares of Powerfleet in the 4th quarter worth approximately $45,504,000. Vanguard Group Inc. bought a new stake in shares of Powerfleet in the fourth quarter worth $43,134,000. AWM Investment Company Inc. purchased a new position in Powerfleet in the fourth quarter worth about $31,000,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Powerfleet during the 4th quarter worth $28,543,000. Finally, 325 Capital LLC purchased a new position in Powerfleet during the fourth quarter valued at $24,737,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AIOT. Northland Securities lifted their target price on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Lake Street Capital set a $8.00 target price on shares of Powerfleet and gave the stock a "buy" rating in a report on Tuesday, May 27th. Raymond James cut their target price on shares of Powerfleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Finally, Barrington Research reiterated an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a research note on Friday, May 23rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $10.50.

Powerfleet Price Performance

Powerfleet stock traded down $0.06 during mid-day trading on Wednesday, reaching $4.70. 559,935 shares of the company's stock traded hands, compared to its average volume of 1,561,692. Powerfleet, Inc. has a 12-month low of $3.70 and a 12-month 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 stock has a 50 day moving average of $5.07 and a two-hundred day moving average of $6.06.

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.