Kopion Asset Management LLC Invests $7.36 Million in Powerfleet, Inc. (NASDAQ:AIOT)

Kopion Asset Management LLC purchased a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,105,205 shares of the company's stock, valued at approximately $7,361,000. Powerfleet accounts for 5.2% of Kopion Asset Management LLC's portfolio, making the stock its 10th largest holding. Kopion Asset Management LLC owned approximately 0.84% of Powerfleet at the end of the most recent reporting period.

Analyst Ratings Changes

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

Powerfleet Trading Up 12.4 %

Shares of AIOT traded up $0.69 during mid-day trading on Wednesday, reaching $6.25. 2,788,017 shares of the stock traded hands, compared to its average volume of 2,517,424. The firm has a fifty day moving average of $6.48. Powerfleet, Inc. has a 12-month low of $2.85 and a 12-month high of $7.38. The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business earned ($0.14) earnings per share. Analysts expect that Powerfleet, Inc. will post -0.14 EPS for the current fiscal year.

Insider Transactions at Powerfleet

In other news, insider Catherine J. Lewis sold 82,010 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.05, for a total transaction of $578,170.50. Following the completion of the sale, the insider now owns 240,962 shares of the company's stock, valued at approximately $1,698,782.10. This trade represents a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.79% of the company's stock.

Powerfleet Profile

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.