Voss Capital LP Acquires Shares of 1,933,592 Powerfleet, Inc. (NASDAQ:AIOT)

Voss Capital LP bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, Holdings Channel.com reports. The fund bought 1,933,592 shares of the company’s stock, valued at approximately $12,878,000. Powerfleet makes up approximately 1.0% of Voss Capital LP’s investment portfolio, making the stock its 23rd biggest holding.

Other large investors have also modified their holdings of the company. Kopion Asset Management LLC acquired a new position in Powerfleet during the fourth quarter worth about $7,361,000. Yarbrough Capital LLC purchased a new position in Powerfleet in the 4th quarter worth approximately $372,000. Financial Management Professionals Inc. acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $50,000. SG Americas Securities LLC purchased a new stake in shares of Powerfleet in the fourth quarter valued at approximately $228,000. Finally, Inspire Investing LLC acquired a new stake in shares of Powerfleet in the fourth quarter valued at approximately $398,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Powerfleet Stock Up 0.4 %

Shares of NASDAQ AIOT opened at $4.77 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a 1 year low of $3.70 and a 1 year high of $8.71. The business has a 50-day moving average of $6.02 and a two-hundred day moving average of $6.10.

Powerfleet (NASDAQ:AIOT) last announced 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). Research analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AIOT has been the topic of several recent analyst reports. Lake Street Capital boosted their target price on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Northland Securities lifted 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. Finally, Barrington Research reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a research report on Thursday, February 13th.

About Powerfleet

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.