AWM Investment Company Inc. Makes New $31 Million Investment in Powerfleet, Inc. (NASDAQ:AIOT)

AWM Investment Company Inc. bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, HoldingsChannel reports. The firm bought 4,654,617 shares of the company’s stock, valued at approximately $31,000,000. Powerfleet comprises approximately 3.8% of AWM Investment Company Inc.’s holdings, making the stock its 3rd largest position.

Several other institutional investors also recently bought and sold shares of AIOT. Private Capital Management LLC purchased a new position in Powerfleet in the fourth quarter worth $45,504,000. Vanguard Group Inc. purchased a new position in Powerfleet during the fourth quarter valued at approximately $43,134,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Powerfleet in the 4th quarter valued at $28,543,000. 325 Capital LLC acquired a new position in shares of Powerfleet in the fourth quarter worth about $24,737,000. Finally, Royce & Associates LP purchased a new position in Powerfleet during the fourth quarter worth approximately $24,487,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Powerfleet Stock Down 0.7%

Shares of NASDAQ AIOT opened at $5.90 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $5.28 and a 200-day simple moving average of $6.10. Powerfleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71.

Analysts Set New Price Targets

AIOT has been the subject of several recent analyst reports. Lake Street Capital boosted their price target on shares of Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Northland Securities raised 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. Raymond James reduced their price target on Powerfleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Finally, Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Powerfleet presently 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.