Samjo Management LLC Makes New $9.72 Million Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Samjo Management LLC bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,459,350 shares of the company's stock, valued at approximately $9,719,000. Powerfleet accounts for about 3.7% of Samjo Management LLC's portfolio, making the stock its 8th largest position. Samjo Management LLC owned about 1.10% of Powerfleet as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC bought a new stake in Powerfleet in the 4th quarter valued at approximately $25,000. Financial Management Professionals Inc. bought a new stake in shares of Powerfleet in the fourth quarter worth $50,000. Spire Wealth Management acquired a new position in Powerfleet during the fourth quarter worth $55,000. Private Advisor Group LLC bought a new position in Powerfleet in the fourth quarter valued at $68,000. Finally, HighTower Advisors LLC acquired a new stake in Powerfleet in the 4th quarter valued at $84,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AIOT. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 target price on shares of Powerfleet in a research report on Thursday, February 13th. Lake Street Capital increased their price objective on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, Northland Securities boosted their target price on shares of Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th.

Powerfleet Stock Down 6.6 %

Shares of NASDAQ AIOT traded down $0.34 during midday trading on Thursday, reaching $4.76. The company's stock had a trading volume of 934,420 shares, compared to its average volume of 1,540,997. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. The business's 50 day moving average price is $6.28 and its two-hundred day moving average price is $6.10.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). On average, 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.