Kennedy Capital Management LLC Takes $1.27 Million Position in Powerfleet, Inc. (NASDAQ:AIOT)

Kennedy Capital Management LLC bought a new position in Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 191,090 shares of the company’s stock, valued at approximately $1,273,000. Kennedy Capital Management LLC owned approximately 0.14% of Powerfleet as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC bought a new position in shares of Powerfleet during the 4th quarter valued at about $25,000. Financial Management Professionals Inc. bought a new position in Powerfleet during the fourth quarter valued at approximately $50,000. Spire Wealth Management purchased a new position in Powerfleet during the 4th quarter valued at approximately $55,000. Legal & General Group Plc bought a new stake in Powerfleet in the 4th quarter worth approximately $58,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Powerfleet during the 4th quarter worth approximately $68,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Powerfleet Trading Down 1.2 %

Shares of AIOT opened at $4.78 on Tuesday. Powerfleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The company’s fifty day simple moving average is $6.21 and its 200-day simple moving average is $6.10.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AIOT shares. Lake Street Capital boosted their price target on shares of Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Northland Securities upped their target price on shares of Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $15.00 price target on shares of Powerfleet in a research report on Thursday, February 13th.

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.