Kennedy Capital Management LLC Raises Stock Position in PowerFleet, Inc. $AIOT

Kennedy Capital Management LLC boosted its position in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 292.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,970,918 shares of the company’s stock after purchasing an additional 1,468,573 shares during the period. Kennedy Capital Management LLC owned approximately 1.47% of PowerFleet worth $10,485,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PowerFleet by 1.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company’s stock valued at $888,000 after acquiring an additional 2,871 shares during the period. Connors Investor Services Inc. raised its stake in shares of PowerFleet by 5.7% in the 4th quarter. Connors Investor Services Inc. now owns 56,000 shares of the company’s stock valued at $298,000 after acquiring an additional 3,000 shares during the period. R Squared Ltd raised its stake in shares of PowerFleet by 40.6% in the 4th quarter. R Squared Ltd now owns 16,073 shares of the company’s stock valued at $86,000 after acquiring an additional 4,640 shares during the period. Bantamac Capital LLC raised its stake in shares of PowerFleet by 9.0% in the 4th quarter. Bantamac Capital LLC now owns 67,887 shares of the company’s stock valued at $361,000 after acquiring an additional 5,621 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of PowerFleet by 100.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after acquiring an additional 5,904 shares during the period. 73.40% of the stock is owned by hedge funds and other institutional investors.

PowerFleet Stock Performance

Shares of AIOT stock opened at $4.22 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.09. The stock has a market capitalization of $566.11 million, a P/E ratio of -18.35 and a beta of 1.43. The company has a 50 day moving average price of $3.43 and a 200 day moving average price of $4.12. PowerFleet, Inc. has a fifty-two week low of $2.78 and a fifty-two week high of $5.88.

Analysts Set New Price Targets

AIOT has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of PowerFleet in a research note on Friday, May 8th. Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.00.

PowerFleet Profile

PowerFleet, Inc (NASDAQ: AIOT) develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company’s systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company’s hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.