348,720 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Acquired by Bard Associates Inc.

Bard Associates Inc. acquired a new stake in Powerfleet, Inc. (NASDAQ:AIOT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 348,720 shares of the company’s stock, valued at approximately $2,322,000.

A number of other institutional investors have also recently modified their holdings of the stock. Kopion Asset Management LLC bought a new position in shares of Powerfleet in the fourth quarter worth $7,361,000. Yarbrough Capital LLC acquired a new stake in Powerfleet during the fourth quarter worth about $372,000. Financial Management Professionals Inc. bought a new position in Powerfleet in the 4th quarter valued at about $50,000. SG Americas Securities LLC acquired a new position in shares of Powerfleet in the 4th quarter valued at approximately $228,000. Finally, Inspire Investing LLC bought a new stake in shares of Powerfleet during the 4th quarter worth approximately $398,000. 73.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AIOT shares. Lake Street Capital lifted their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Northland Securities lifted their price target on Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st. Finally, Barrington Research reissued an “outperform” rating and set a $15.00 target price on shares of Powerfleet in a research note on Thursday, February 13th.

Insider Activity

In related news, insider Catherine J. Lewis sold 82,010 shares of the business’s 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 owns 240,962 shares of the company’s stock, valued at $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.79% of the stock is currently owned by insiders.

Powerfleet Stock Down 9.4 %

Shares of NASDAQ:AIOT opened at $6.39 on Tuesday. Powerfleet, Inc. has a 52-week low of $2.88 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. The company has a fifty day moving average of $6.68 and a 200-day moving average of $5.96.

Powerfleet (NASDAQ:AIOT) last issued its earnings results 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). Analysts forecast that Powerfleet, Inc. will post -0.32 EPS for the current year.

Powerfleet Company Profile

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.