PowerFleet, Inc. $AIOT Stake Lessened by Voss Capital LP

Voss Capital LP lessened its stake in PowerFleet, Inc. (NASDAQ:AIOT) by 31.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,949,990 shares of the company’s stock after selling 1,850,010 shares during the period. PowerFleet comprises about 1.0% of Voss Capital LP’s investment portfolio, making the stock its 20th largest position. Voss Capital LP’s holdings in PowerFleet were worth $21,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AIOT. BNP Paribas Financial Markets increased its stake in shares of PowerFleet by 100.9% in the second quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after buying an additional 5,904 shares during the last quarter. MGO One Seven LLC bought a new stake in shares of PowerFleet in the fourth quarter worth $55,000. Krilogy Financial LLC bought a new stake in shares of PowerFleet in the fourth quarter worth $58,000. R Squared Ltd bought a new stake in shares of PowerFleet in the third quarter worth $60,000. Finally, Prudential Financial Inc. bought a new stake in shares of PowerFleet in the second quarter worth $65,000. Institutional investors own 73.40% of the company’s stock.

Analysts Set New Price Targets

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

PowerFleet Stock Up 0.2%

AIOT stock opened at $4.22 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.09 and a quick ratio of 0.96. PowerFleet, Inc. has a 1-year low of $2.78 and a 1-year high of $5.88. The firm has a fifty day moving average price of $3.43 and a two-hundred day moving average price of $4.13. The firm has a market cap of $566.11 million, a price-to-earnings ratio of -18.35 and a beta of 1.43.

About PowerFleet

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.