Bandera Partners LLC Acquires New Shares in Powerfleet, Inc. (NASDAQ:AIOT)

Bandera Partners LLC acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,864,317 shares of the company’s stock, valued at approximately $12,416,000. Powerfleet comprises 4.8% of Bandera Partners LLC’s holdings, making the stock its 10th biggest position. Bandera Partners LLC owned about 1.41% of Powerfleet at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Powerfleet during the fourth quarter worth about $11,034,000. Kopion Asset Management LLC bought a new position in Powerfleet in the 4th quarter worth about $7,361,000. Hodges Capital Management Inc. acquired a new stake in shares of Powerfleet in the fourth quarter valued at approximately $10,982,000. Inspire Investing LLC bought a new stake in shares of Powerfleet during the fourth quarter valued at approximately $398,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Powerfleet during the fourth quarter valued at approximately $118,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on AIOT. Northland Securities raised their target price on Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Barrington Research reissued an “outperform” rating and set a $15.00 price target on shares of Powerfleet in a report on Thursday, February 13th. Finally, 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 research note on Tuesday, February 11th.

Powerfleet Stock Down 1.8 %

AIOT opened at $5.49 on Tuesday. The business has a 50 day moving average price of $6.52 and a two-hundred day moving average price of $6.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. Powerfleet, Inc. has a 1-year low of $3.99 and a 1-year high of $8.71.

Powerfleet (NASDAQ:AIOT) last announced 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). Research analysts anticipate that Powerfleet, Inc. will post -0.32 earnings per share 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.