Voss Capital LP reduced its position in shares of PowerFleet, Inc. (NASDAQ:AIOT – Free Report) by 31.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,949,990 shares of the company’s stock after selling 1,850,010 shares during the period. PowerFleet accounts for about 1.0% of Voss Capital LP’s investment portfolio, making the stock its 20th largest position. Voss Capital LP owned about 2.94% of PowerFleet worth $21,014,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PowerFleet by 1.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company’s stock valued at $888,000 after buying an additional 2,871 shares during the period. Connors Investor Services Inc. raised its holdings in PowerFleet by 5.7% in the fourth quarter. Connors Investor Services Inc. now owns 56,000 shares of the company’s stock valued at $298,000 after buying an additional 3,000 shares during the period. R Squared Ltd raised its holdings in PowerFleet by 40.6% in the fourth quarter. R Squared Ltd now owns 16,073 shares of the company’s stock valued at $86,000 after buying an additional 4,640 shares during the period. Bantamac Capital LLC raised its holdings in PowerFleet by 9.0% in the fourth quarter. Bantamac Capital LLC now owns 67,887 shares of the company’s stock valued at $361,000 after buying an additional 5,621 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in PowerFleet by 100.9% in the second quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after buying an additional 5,904 shares during the period. 73.40% of the stock is owned by institutional investors and hedge funds.
PowerFleet Trading Up 0.2%
NASDAQ AIOT opened at $4.22 on Friday. The company’s fifty day simple moving average is $3.43 and its 200-day simple moving average is $4.13. PowerFleet, Inc. has a 52 week low of $2.78 and a 52 week high of $5.88. 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 stock has a market cap of $566.11 million, a P/E ratio of -18.35 and a beta of 1.43.
Analyst Upgrades and Downgrades
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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.
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