PowerFleet, Inc. (NASDAQ:AIOT) is AMH Equity Ltd's Largest Position

AMH Equity Ltd trimmed its position in shares of PowerFleet, Inc. (NASDAQ:AIOT - Free Report) by 6.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,100,000 shares of the company's stock after selling 73,994 shares during the period. PowerFleet accounts for 9.1% of AMH Equity Ltd's portfolio, making the stock its largest holding. AMH Equity Ltd owned 0.83% of PowerFleet worth $6,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC purchased a new position in shares of PowerFleet in the fourth quarter worth $25,000. NBC Securities Inc. purchased a new position in shares of PowerFleet during the first quarter valued at about $36,000. Comerica Bank bought a new stake in shares of PowerFleet in the fourth quarter worth about $42,000. California State Teachers Retirement System purchased a new stake in shares of PowerFleet in the fourth quarter worth about $46,000. Finally, GAMMA Investing LLC bought a new position in PowerFleet during the first quarter valued at approximately $46,000. 73.40% of the stock is currently owned by institutional investors.

PowerFleet Stock Down 2.4%

AIOT stock traded down $0.11 during trading on Friday, reaching $4.42. 963,139 shares of the company traded hands, compared to its average volume of 1,671,879. The company has a market capitalization of $589.50 million, a price-to-earnings ratio of -10.28 and a beta of 1.32. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.12. The business has a 50 day simple moving average of $4.77 and a 200 day simple moving average of $5.52. PowerFleet, Inc. has a 12 month low of $3.70 and a 12 month high of $8.71.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AIOT shares. Raymond James Financial reduced their target price on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen raised PowerFleet from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Barrington Research reiterated an "outperform" rating and issued a $15.00 target price on shares of PowerFleet in a report on Friday, June 13th. Finally, Lake Street Capital set a $8.00 target price on PowerFleet and gave the company a "buy" rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.50.

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.