AMH Equity Ltd Makes New $7.82 Million Investment in Powerfleet, Inc. (NASDAQ:AIOT)

AMH Equity Ltd purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,173,994 shares of the company's stock, valued at approximately $7,819,000. Powerfleet accounts for approximately 7.7% of AMH Equity Ltd's investment portfolio, making the stock its 5th largest holding. AMH Equity Ltd owned about 0.89% of Powerfleet as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in Powerfleet in the 4th quarter valued at $50,000. Spire Wealth Management acquired a new stake in shares of Powerfleet during the 4th quarter worth approximately $55,000. Private Advisor Group LLC bought a new position in Powerfleet in the 4th quarter valued at approximately $68,000. New York State Common Retirement Fund bought a new position in Powerfleet in the 4th quarter valued at approximately $113,000. Finally, Bfsg LLC bought a new position in shares of Powerfleet during the fourth quarter valued at $178,000. Institutional investors own 73.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barrington Research reissued an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a research report on Thursday, February 13th. Lake Street Capital boosted their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. William Blair restated an "outperform" rating on shares of Powerfleet in a report on Thursday, November 21st. Finally, Northland Securities increased 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.

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Insider Buying and Selling at Powerfleet

In related news, insider Catherine J. Lewis sold 82,010 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.05, for a total transaction of $578,170.50. Following the transaction, the insider now directly owns 240,962 shares in the company, valued at approximately $1,698,782.10. This represents a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.79% of the stock is owned by company insiders.

Powerfleet Trading Up 1.9 %

Shares of AIOT stock traded up $0.13 during mid-day trading on Friday, hitting $7.05. 4,168,703 shares of the stock traded hands, compared to its average volume of 2,284,162. Powerfleet, Inc. has a 52-week low of $2.88 and a 52-week high of $8.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. The stock's fifty day moving average is $6.68 and its two-hundred day moving average is $5.94.

Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly earnings data 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). On average, sell-side analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current year.

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.