Bandera Partners LLC Takes $12.42 Million Position in Powerfleet, Inc. (NASDAQ:AIOT)

Bandera Partners LLC bought a new position in Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,864,317 shares of the company’s stock, valued at approximately $12,416,000. Powerfleet comprises about 4.8% of Bandera Partners LLC’s portfolio, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Powerfleet in the 4th quarter valued at $11,034,000. Kopion Asset Management LLC acquired a new stake in Powerfleet during the 4th quarter worth about $7,361,000. Hodges Capital Management Inc. purchased a new stake in Powerfleet during the fourth quarter valued at about $10,982,000. Inspire Investing LLC acquired a new position in shares of Powerfleet in the fourth quarter worth about $398,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Powerfleet in the fourth quarter worth approximately $118,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Powerfleet Price Performance

AIOT stock opened at $5.49 on Tuesday. The firm has a 50 day simple moving average of $6.52 and a 200 day simple moving average of $6.12. Powerfleet, Inc. has a 52 week low of $3.99 and a 52 week high of $8.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21.

Powerfleet (NASDAQ:AIOT) last issued its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). On average, equities analysts forecast that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Lake Street Capital upped their price target on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Northland Securities boosted their target price on shares of Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Powerfleet in a research report on Thursday, February 13th.

About Powerfleet

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.