Royce & Associates LP Purchases 159,256 Shares of PowerFleet, Inc. $AIOT

Royce & Associates LP lifted its position in PowerFleet, Inc. (NASDAQ:AIOT) by 3.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,471,131 shares of the company’s stock after acquiring an additional 159,256 shares during the period. Royce & Associates LP’s holdings in PowerFleet were worth $23,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Capital Management LLC lifted its stake in shares of PowerFleet by 9.1% in the third quarter. Private Capital Management LLC now owns 7,354,073 shares of the company’s stock worth $38,535,000 after buying an additional 610,660 shares in the last quarter. Voss Capital LP lifted its stake in shares of PowerFleet by 4.3% in the third quarter. Voss Capital LP now owns 5,800,000 shares of the company’s stock worth $30,392,000 after buying an additional 240,509 shares in the last quarter. Private Management Group Inc. lifted its stake in shares of PowerFleet by 6.6% in the third quarter. Private Management Group Inc. now owns 5,208,278 shares of the company’s stock worth $27,291,000 after buying an additional 324,127 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PowerFleet by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,091,361 shares of the company’s stock worth $16,199,000 after buying an additional 97,531 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in shares of PowerFleet by 56.1% in the fourth quarter. Pinnacle Associates Ltd. now owns 2,182,810 shares of the company’s stock worth $11,613,000 after buying an additional 784,505 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.

PowerFleet Stock Up 4.4%

Shares of AIOT stock opened at $3.56 on Wednesday. PowerFleet, Inc. has a 12 month low of $2.78 and a 12 month high of $5.88. The stock has a market cap of $477.57 million, a P/E ratio of -15.48 and a beta of 1.38. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $3.18 and a two-hundred day simple moving average of $4.20.

Analyst Upgrades and Downgrades

AIOT has been the subject of several research reports. Barrington Research reissued an “outperform” rating and set a $15.00 price objective on shares of PowerFleet in a report on Friday, February 6th. Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of PowerFleet in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, PowerFleet presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

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.