Ghisallo Capital Management LLC Acquires Shares of 1,000,000 Powerfleet, Inc. (NASDAQ:AIOT)

Ghisallo Capital Management LLC acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,000,000 shares of the company's stock, valued at approximately $6,660,000. Ghisallo Capital Management LLC owned about 0.75% of Powerfleet at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AIOT. Kopion Asset Management LLC bought a new position in Powerfleet during the 4th quarter worth approximately $7,361,000. Yarbrough Capital LLC bought a new position in Powerfleet during the 4th quarter worth approximately $372,000. Financial Management Professionals Inc. bought a new position in Powerfleet during the 4th quarter worth approximately $50,000. SG Americas Securities LLC bought a new position in Powerfleet during the 4th quarter worth approximately $228,000. Finally, Inspire Investing LLC bought a new position in Powerfleet in the fourth quarter valued at approximately $398,000. Institutional investors own 73.40% of the company's stock.

Analyst Ratings Changes

AIOT has been the topic of a number of research reports. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a research note on Thursday, February 13th. Lake Street Capital lifted their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Northland Securities lifted their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Finally, Raymond James lowered their price objective on shares of Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $11.25.

Powerfleet Stock Up 1.0 %

AIOT traded up $0.05 during trading on Thursday, reaching $5.09. 250,887 shares of the stock were exchanged, compared to its average volume of 1,510,227. Powerfleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71. The stock's 50 day moving average price is $5.54 and its two-hundred day moving average price is $6.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). Equities analysts forecast that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

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.