Kopion Asset Management LLC Buys 783,501 Shares of PowerFleet, Inc. $AIOT

Kopion Asset Management LLC boosted its stake in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 101.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,553,700 shares of the company’s stock after acquiring an additional 783,501 shares during the quarter. PowerFleet makes up approximately 5.3% of Kopion Asset Management LLC’s holdings, making the stock its 9th biggest holding. Kopion Asset Management LLC owned about 1.16% of PowerFleet worth $8,141,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of PowerFleet by 3.8% during the first quarter. Vanguard Group Inc. now owns 6,725,504 shares of the company’s stock worth $36,923,000 after purchasing an additional 248,914 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in PowerFleet by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 296,111 shares of the company’s stock worth $1,626,000 after purchasing an additional 15,249 shares during the last quarter. Swiss National Bank acquired a new position in PowerFleet during the 1st quarter worth $1,265,000. Nuveen LLC acquired a new position in PowerFleet during the 1st quarter worth $5,233,000. Finally, Raymond James Financial Inc. boosted its position in PowerFleet by 36.4% in the 1st quarter. Raymond James Financial Inc. now owns 969,122 shares of the company’s stock valued at $5,320,000 after buying an additional 258,787 shares during the last quarter. 73.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AIOT. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, October 8th. William Blair reiterated an “outperform” rating on shares of PowerFleet in a research report on Tuesday, November 11th. Barrington Research restated an “outperform” rating and set a $15.00 target price on shares of PowerFleet in a research report on Wednesday, November 26th. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.50.

PowerFleet Trading Up 1.5%

NASDAQ:AIOT opened at $5.44 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. PowerFleet, Inc. has a 1-year low of $3.70 and a 1-year high of $8.71. The firm has a market capitalization of $727.98 million, a price-to-earnings ratio of -17.55 and a beta of 1.35. The business’s 50-day moving average price is $5.07 and its two-hundred day moving average price is $4.81.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $111.68 million during the quarter, compared to analysts’ expectations of $105.51 million. PowerFleet had a negative return on equity of 9.00% and a negative net margin of 9.70%. On average, equities analysts expect that PowerFleet, Inc. will post -0.32 earnings per share for the current year.

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.