Inspire Investing LLC Takes $398,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

Inspire Investing LLC bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 59,834 shares of the company's stock, valued at approximately $398,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kopion Asset Management LLC bought a new position in shares of Powerfleet in the fourth quarter worth approximately $7,361,000. Yarbrough Capital LLC purchased a new position in shares of Powerfleet during the fourth quarter valued at approximately $372,000. Financial Management Professionals Inc. purchased a new position in shares of Powerfleet during the fourth quarter valued at about $50,000. Finally, SG Americas Securities LLC bought a new position in shares of Powerfleet in the 4th quarter worth approximately $228,000. 73.40% of the stock is owned by institutional investors.

Powerfleet Price Performance

Shares of NASDAQ AIOT traded down $0.12 during trading hours on Tuesday, hitting $6.13. 1,241,941 shares of the company's stock were exchanged, compared to its average volume of 1,927,620. Powerfleet, Inc. has a 1-year low of $2.85 and a 1-year high of $7.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.71. The firm has a 50-day moving average of $6.57.

Powerfleet (NASDAQ:AIOT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The company had revenue of $77.02 million for the quarter, compared to analysts' expectations of $74.54 million. During the same period in the prior year, the company posted ($0.14) EPS. Research analysts anticipate that Powerfleet, Inc. will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the firm's stock in a transaction dated 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 $1,698,782.10. This trade represents a 25.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.79% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on AIOT shares. William Blair reissued an "outperform" rating on shares of Powerfleet in a report on Thursday, November 21st. Northland Securities raised their target price on shares of Powerfleet from $8.00 to $10.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Finally, Barrington Research raised their price target on shares of Powerfleet from $10.00 to $15.00 and gave the company an "outperform" rating in a report on Friday, November 22nd.

About Powerfleet

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.