Lisanti Capital Growth LLC Invests $2.26 Million in PowerFleet, Inc. (NASDAQ:AIOT)

Lisanti Capital Growth LLC acquired a new stake in shares of PowerFleet, Inc. (NASDAQ:AIOT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 411,675 shares of the company's stock, valued at approximately $2,260,000. Lisanti Capital Growth LLC owned approximately 0.31% of PowerFleet as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in PowerFleet during the 1st quarter valued at about $172,000. Oppenheimer Asset Management Inc. increased its stake in shares of PowerFleet by 14.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company's stock valued at $111,000 after acquiring an additional 2,594 shares during the period. Yarbrough Capital LLC increased its stake in shares of PowerFleet by 105.3% during the first quarter. Yarbrough Capital LLC now owns 114,646 shares of the company's stock valued at $629,000 after acquiring an additional 58,807 shares during the period. AEGON ASSET MANAGEMENT UK Plc raised its holdings in PowerFleet by 42.9% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 2,378,418 shares of the company's stock worth $13,010,000 after purchasing an additional 714,229 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in PowerFleet in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded PowerFleet from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Raymond James Financial decreased their target price on PowerFleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Barrington Research reaffirmed an "outperform" rating and set a $15.00 target price on shares of PowerFleet in a report on Friday, June 13th. Finally, Lake Street Capital set a $8.00 price target on shares of PowerFleet and gave the company a "buy" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.50.

PowerFleet Price Performance

Shares of AIOT traded up $0.03 during trading hours on Wednesday, hitting $4.36. 1,446,296 shares of the company were exchanged, compared to its average volume of 1,628,533. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.00. The company has a market capitalization of $581.49 million, a PE ratio of -10.14 and a beta of 1.32. The firm has a fifty day simple moving average of $4.97 and a 200-day simple moving average of $5.74. PowerFleet, Inc. has a one year low of $3.70 and a one year high of $8.71.

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.