Bayesian Capital Management LP Makes New $180,000 Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Bayesian Capital Management LP bought a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,100 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds also recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc bought a new position in Powerfleet during the fourth quarter valued at about $11,034,000. Kopion Asset Management LLC bought a new stake in shares of Powerfleet in the 4th quarter worth approximately $7,361,000. Hodges Capital Management Inc. purchased a new position in Powerfleet in the fourth quarter valued at approximately $10,982,000. Inspire Investing LLC bought a new position in Powerfleet during the fourth quarter valued at $398,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Powerfleet in the fourth quarter worth $118,000. 73.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AIOT has been the topic of a number of recent research reports. Raymond James dropped their price target on Powerfleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Lake Street Capital upped their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Northland Securities lifted their target price on shares of Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Barrington Research restated an “outperform” rating and set a $15.00 price target on shares of Powerfleet in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $11.25.

Powerfleet Trading Up 3.5 %

AIOT stock opened at $5.23 on Friday. The stock has a 50-day simple moving average of $5.31 and a two-hundred day simple moving average of $6.05. Powerfleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51.

Powerfleet (NASDAQ:AIOT) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, sell-side analysts predict that Powerfleet, Inc. will post -0.32 EPS for the current 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.