AMH Equity Ltd acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,173,994 shares of the company's stock, valued at approximately $7,819,000. Powerfleet comprises 7.7% of AMH Equity Ltd's investment portfolio, making the stock its 5th biggest holding. AMH Equity Ltd owned about 0.89% of Powerfleet as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in shares of Powerfleet in the 4th quarter worth $50,000. Spire Wealth Management bought a new position in Powerfleet during the fourth quarter worth about $55,000. Private Advisor Group LLC bought a new position in Powerfleet during the fourth quarter worth about $68,000. New York State Common Retirement Fund bought a new stake in shares of Powerfleet in the 4th quarter valued at about $113,000. Finally, Bfsg LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at approximately $178,000. 73.40% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on AIOT. Lake Street Capital boosted their price objective 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 boosted their price target on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Barrington Research reaffirmed an "outperform" rating and set a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th. Finally, William Blair reissued an "outperform" rating on shares of Powerfleet in a research note on Thursday, November 21st.
Get Our Latest Stock Report on Powerfleet
In related news, insider Catherine J. Lewis sold 82,010 shares of Powerfleet stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total value of $578,170.50. Following the sale, the insider now owns 240,962 shares of the company's stock, valued at approximately $1,698,782.10. This trade represents a 25.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.79% of the company's stock.
Shares of AIOT opened at $7.38 on Thursday. Powerfleet, Inc. has a twelve month low of $2.88 and a twelve month high of $8.71. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average price is $6.66 and its two-hundred day moving average price is $5.90.
Powerfleet (NASDAQ:AIOT - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, research analysts forecast that Powerfleet, Inc. will post -0.32 earnings per share for the current year.
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.
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