1,933,592 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Bought by Voss Capital LP

Voss Capital LP purchased a new stake in Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,933,592 shares of the company’s stock, valued at approximately $12,878,000. Powerfleet comprises 1.0% of Voss Capital LP’s holdings, making the stock its 23rd biggest holding. Voss Capital LP owned about 1.46% of Powerfleet at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AIOT. Signaturefd LLC acquired a new position in shares of Powerfleet in the 4th quarter valued at $25,000. Financial Management Professionals Inc. purchased a new stake in Powerfleet during the 4th quarter valued at about $50,000. Spire Wealth Management purchased a new stake in Powerfleet during the 4th quarter valued at about $55,000. Legal & General Group Plc acquired a new position in shares of Powerfleet in the fourth quarter valued at about $58,000. Finally, Summit Investment Advisors Inc. purchased a new position in shares of Powerfleet in the fourth quarter worth about $59,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

AIOT has been the topic of a number of recent research reports. Barrington Research reiterated 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 upped 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. Finally, Northland Securities raised 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 Performance

Powerfleet stock opened at $4.77 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. The stock’s 50 day simple moving average is $6.02 and its two-hundred day simple moving average is $6.10. Powerfleet, Inc. has a 12 month low of $3.70 and a 12 month high of $8.71.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). On average, equities analysts expect that Powerfleet, Inc. will post -0.32 earnings per share for the current year.

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.