Kennedy Capital Management LLC Makes New Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Kennedy Capital Management LLC bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 191,090 shares of the company's stock, valued at approximately $1,273,000. Kennedy Capital Management LLC owned approximately 0.14% of Powerfleet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kopion Asset Management LLC bought a new stake in Powerfleet during the fourth quarter worth $7,361,000. Yarbrough Capital LLC bought a new stake in shares of Powerfleet during the 4th quarter worth $372,000. Financial Management Professionals Inc. purchased a new position in shares of Powerfleet in the 4th quarter worth about $50,000. SG Americas Securities LLC purchased a new position in shares of Powerfleet in the 4th quarter worth about $228,000. Finally, Inspire Investing LLC bought a new position in Powerfleet during the fourth quarter valued at about $398,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AIOT shares. Barrington Research reiterated an "outperform" rating and issued a $15.00 target price on shares of Powerfleet in a research note on Thursday, February 13th. Lake Street Capital boosted their target price on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. 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 note on Tuesday, February 11th.

Powerfleet Stock Performance

AIOT stock traded up $0.02 during midday trading on Friday, reaching $4.77. 1,077,840 shares of the company's stock traded hands, compared to its average volume of 1,538,254. The company has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $6.10. Powerfleet, Inc. has a 52 week low of $3.70 and a 52 week 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.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings data 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). Sell-side analysts forecast that Powerfleet, Inc. will post -0.32 earnings per share for the current year.

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.