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

Ashford Capital Management Inc. bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 128,571 shares of the company’s stock, valued at approximately $856,000. Ashford Capital Management Inc. owned approximately 0.10% of Powerfleet as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Signaturefd LLC acquired a new stake in Powerfleet in the fourth quarter valued at $25,000. Comerica Bank bought a new stake in shares of Powerfleet in the 4th quarter worth about $42,000. Financial Management Professionals Inc. acquired a new stake in shares of Powerfleet in the 4th quarter valued at about $50,000. Spire Wealth Management bought a new position in shares of Powerfleet during the fourth quarter worth about $55,000. Finally, Legal & General Group Plc bought a new position in shares of Powerfleet during the fourth quarter worth about $58,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Powerfleet Trading Down 0.5%

Shares of NASDAQ AIOT opened at $5.94 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The firm’s 50-day moving average price is $5.28 and its two-hundred day moving average price is $6.10. Powerfleet, Inc. has a 52-week low of $3.70 and a 52-week high of $8.71.

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.