Yaupon Capital Management LP Buys Shares of 471,936 Powerfleet, Inc. (NASDAQ:AIOT)

Yaupon Capital Management LP acquired a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 471,936 shares of the company's stock, valued at approximately $3,143,000. Yaupon Capital Management LP owned about 0.36% of Powerfleet at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AIOT. Vanguard Group Inc. bought a new position in shares of Powerfleet during the fourth quarter valued at $43,134,000. Ontario Teachers Pension Plan Board acquired a new stake in Powerfleet in the fourth quarter valued at $28,543,000. Royce & Associates LP bought a new position in Powerfleet during the 4th quarter worth $24,487,000. Private Management Group Inc. bought a new stake in shares of Powerfleet in the 4th quarter valued at about $23,147,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Powerfleet in the fourth quarter valued at about $15,938,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on AIOT. Northland Securities upped their target price on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th. Finally, Lake Street Capital lifted their target price on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th.

Powerfleet Trading Down 0.2 %

Shares of AIOT stock traded down $0.01 during trading hours on Friday, hitting $5.12. 785,938 shares of the company were exchanged, compared to its average volume of 1,527,982. The company has a 50 day simple moving average of $5.76 and a two-hundred day simple moving average of $6.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). On average, research analysts forecast that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal 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.