Bandera Partners LLC Invests $12.42 Million in Powerfleet, Inc. (NASDAQ:AIOT)

Bandera Partners LLC purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,864,317 shares of the company's stock, valued at approximately $12,416,000. Powerfleet accounts for about 4.8% of Bandera Partners LLC's investment portfolio, making the stock its 10th largest holding. Bandera Partners LLC owned approximately 1.41% of Powerfleet at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AIOT. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Powerfleet during the fourth quarter worth about $11,034,000. Kopion Asset Management LLC purchased a new position in shares of Powerfleet during the 4th quarter valued at approximately $7,361,000. Hodges Capital Management Inc. acquired a new position in shares of Powerfleet in the 4th quarter valued at $10,982,000. Inspire Investing LLC purchased a new stake in Powerfleet during the fourth quarter worth $398,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Powerfleet during the fourth quarter valued at $118,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Powerfleet Price Performance

Powerfleet stock traded down $0.53 during midday trading on Friday, hitting $4.27. 7,720,566 shares of the stock were exchanged, compared to its average volume of 1,521,314. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The stock's 50-day simple moving average is $6.42 and its 200 day simple moving average is $6.11. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

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Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). As a group, equities analysts expect that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AIOT shares. Barrington Research restated an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a research note on Thursday, February 13th. Lake Street Capital boosted their price objective on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, Northland Securities increased 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.

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.