Ardsley Advisory Partners LP Purchases New Stake in Powerfleet, Inc. (NASDAQ:AIOT)

Ardsley Advisory Partners LP acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 100,000 shares of the company’s stock, valued at approximately $666,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Signaturefd LLC acquired a new position in Powerfleet in the fourth quarter worth about $25,000. Comerica Bank acquired a new position in shares of Powerfleet in the 4th quarter worth approximately $42,000. Financial Management Professionals Inc. bought a new stake in shares of Powerfleet in the 4th quarter valued at approximately $50,000. Spire Wealth Management acquired a new stake in shares of Powerfleet during the 4th quarter valued at approximately $55,000. Finally, Legal & General Group Plc bought a new position in Powerfleet during the fourth quarter worth $58,000. Institutional investors own 73.40% of the company’s stock.

Powerfleet Trading Up 3.0 %

AIOT stock opened at $5.15 on Friday. 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 simple moving average is $5.45 and its 200 day simple moving average is $6.07. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Analysts predict that Powerfleet, Inc. will post -0.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AIOT. 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 research note on Tuesday, February 11th. Raymond James dropped their price objective on shares of Powerfleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday. Barrington Research restated an “outperform” rating and issued a $15.00 target price on shares of Powerfleet in a research note on Thursday, February 13th. Finally, Northland Securities increased their price target on Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $11.25.

Powerfleet 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.