AWM Investment Company Inc. Takes Position in Powerfleet, Inc. (NASDAQ:AIOT)

AWM Investment Company Inc. bought a new position in Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 4,654,617 shares of the company’s stock, valued at approximately $31,000,000. Powerfleet accounts for approximately 3.8% of AWM Investment Company Inc.’s investment portfolio, making the stock its 3rd biggest holding. AWM Investment Company Inc. owned 3.52% of Powerfleet as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Capital Management LLC bought a new position in shares of Powerfleet during the fourth quarter valued at about $45,504,000. Vanguard Group Inc. bought a new stake in Powerfleet during the fourth quarter worth about $43,134,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Powerfleet in the 4th quarter worth approximately $28,543,000. 325 Capital LLC purchased a new stake in shares of Powerfleet in the fourth quarter worth $24,737,000. Finally, Royce & Associates LP purchased a new stake in Powerfleet during the 4th quarter valued at about $24,487,000. Institutional investors own 73.40% of the company’s stock.

Powerfleet Stock Down 0.7%

NASDAQ AIOT opened at $5.90 on Wednesday. Powerfleet, Inc. has a one year low of $3.70 and a one year high of $8.71. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $5.28 and a 200-day moving average price of $6.10.

Wall Street Analyst Weigh In

Several analysts have commented on AIOT shares. Raymond James cut their target price on Powerfleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Barrington Research restated an “outperform” rating and issued a $15.00 price target on shares of Powerfleet in a research report on Thursday, February 13th. Northland Securities raised their price objective 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, Lake Street Capital boosted their price target on Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $11.25.

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.