Voss Capital LP Grows Holdings in PowerFleet, Inc. $AIOT

Voss Capital LP boosted its position in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,800,000 shares of the company’s stock after acquiring an additional 240,509 shares during the period. PowerFleet accounts for about 1.5% of Voss Capital LP’s investment portfolio, making the stock its 16th largest position. Voss Capital LP owned about 4.33% of PowerFleet worth $30,392,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AIOT. State of Alaska Department of Revenue purchased a new stake in shares of PowerFleet in the third quarter worth $31,000. CWM LLC lifted its stake in shares of PowerFleet by 784.9% during the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock valued at $33,000 after buying an additional 5,502 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of PowerFleet by 100.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after buying an additional 5,904 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in PowerFleet by 43.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock worth $55,000 after buying an additional 3,826 shares during the period. Finally, Brookwood Investment Group LLC bought a new position in PowerFleet in the 3rd quarter worth $59,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

PowerFleet Stock Performance

AIOT opened at $3.06 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.09. The stock has a market capitalization of $410.50 million, a price-to-earnings ratio of -13.30 and a beta of 1.37. The company has a fifty day moving average of $4.39 and a 200 day moving average of $4.87. PowerFleet, Inc. has a fifty-two week low of $3.05 and a fifty-two week high of $6.38.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%.The company had revenue of $113.49 million during the quarter, compared to analysts’ expectations of $111.69 million. As a group, sell-side analysts forecast that PowerFleet, Inc. will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on AIOT shares. Barrington Research reissued an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a report on Friday, February 6th. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings raised PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

PowerFleet Company Profile

PowerFleet, Inc (NASDAQ: AIOT) develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company’s systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company’s hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.