Ashford Capital Management Inc. Buys Shares of 128,571 Powerfleet, Inc. (NASDAQ:AIOT)

Ashford Capital Management Inc. purchased a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 128,571 shares of the company’s stock, valued at approximately $856,000.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC acquired a new position in Powerfleet during the 4th quarter valued at about $25,000. Comerica Bank bought a new stake in shares of Powerfleet during the fourth quarter valued at approximately $42,000. Financial Management Professionals Inc. bought a new stake in shares of Powerfleet during the fourth quarter valued at approximately $50,000. Spire Wealth Management acquired a new position in shares of Powerfleet during the fourth quarter worth approximately $55,000. Finally, Legal & General Group Plc bought a new position in Powerfleet in the 4th quarter worth approximately $58,000. Institutional investors own 73.40% of the company’s stock.

Powerfleet Stock Down 0.5%

AIOT opened at $5.94 on Tuesday. The business has a 50 day moving average price of $5.28 and a two-hundred day moving average price of $6.10. 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 1-year low of $3.70 and a 1-year high of $8.71.

Analysts Set New Price Targets

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

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.