Yarbrough Capital LLC Takes $372,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

Yarbrough Capital LLC bought a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 55,839 shares of the company's stock, valued at approximately $372,000.

Separately, Kopion Asset Management LLC acquired a new position in Powerfleet in the fourth quarter valued at approximately $7,361,000. Institutional investors own 73.40% of the company's stock.

Insider Buying and Selling at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of Powerfleet stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.05, for a total value of $578,170.50. Following the sale, the insider now directly owns 240,962 shares in the company, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.79% of the company's stock.

Powerfleet Stock Performance

AIOT stock traded down $0.08 during mid-day trading on Friday, hitting $6.03. 496,229 shares of the company were exchanged, compared to its average volume of 2,200,320. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.71. Powerfleet, Inc. has a 1-year low of $2.85 and a 1-year high of $7.38. The business has a 50 day simple moving average of $6.51.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its earnings results 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 business had revenue of $77.02 million during the quarter, compared to analysts' expectations of $74.54 million. During the same period in the previous year, the business posted ($0.14) EPS. On average, analysts expect that Powerfleet, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Powerfleet Company 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.