PowerFleet, Inc. $AIOT Holdings Raised by 1492 Capital Management LLC

1492 Capital Management LLC boosted its stake in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,240,067 shares of the company’s stock after purchasing an additional 169,896 shares during the quarter. PowerFleet makes up 2.5% of 1492 Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. 1492 Capital Management LLC’s holdings in PowerFleet were worth $6,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of PowerFleet by 100.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after purchasing an additional 5,904 shares during the period. MGO One Seven LLC acquired a new stake in shares of PowerFleet in the 4th quarter valued at about $55,000. Krilogy Financial LLC acquired a new stake in shares of PowerFleet in the 4th quarter valued at about $58,000. R Squared Ltd acquired a new stake in shares of PowerFleet in the 3rd quarter valued at about $60,000. Finally, Prudential Financial Inc. acquired a new stake in shares of PowerFleet in the 2nd quarter valued at about $65,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

PowerFleet Stock Down 2.6%

PowerFleet stock opened at $3.81 on Thursday. PowerFleet, Inc. has a twelve month low of $2.78 and a twelve month high of $5.88. The stock has a 50 day moving average of $3.28 and a two-hundred day moving average of $4.15. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $511.11 million, a price-to-earnings ratio of -16.56 and a beta of 1.43.

Analyst Ratings Changes

AIOT has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of PowerFleet in a research report on Friday, May 8th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price objective on shares of PowerFleet in a research report on Friday, February 6th. Finally, Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, PowerFleet has a consensus rating of “Moderate Buy” and an average target price of $15.00.

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.