Bard Associates Inc. Invests $2.32 Million in Powerfleet, Inc. (NASDAQ:AIOT)

Bard Associates Inc. bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 348,720 shares of the company’s stock, valued at approximately $2,322,000. Bard Associates Inc. owned about 0.26% of Powerfleet as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AIOT. Kopion Asset Management LLC acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $7,361,000. Yarbrough Capital LLC acquired a new position in Powerfleet during the fourth quarter worth $372,000. Financial Management Professionals Inc. acquired a new position in Powerfleet during the fourth quarter worth $50,000. SG Americas Securities LLC bought a new stake in Powerfleet during the fourth quarter worth $228,000. Finally, Inspire Investing LLC acquired a new stake in Powerfleet in the fourth quarter valued at $398,000. Institutional investors own 73.40% of the company’s stock.

Insiders Place Their Bets

In other news, insider Catherine J. Lewis sold 82,010 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.05, for a total value of $578,170.50. Following the completion of the sale, the insider now owns 240,962 shares of the company’s stock, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.79% of the company’s stock.

Wall Street Analyst Weigh In

AIOT has been the topic of several recent analyst reports. William Blair restated an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st. Northland Securities boosted their price target on Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Lake Street Capital raised their price objective on Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Barrington Research reissued an “outperform” rating and set a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th.

Powerfleet Stock Performance

Shares of AIOT opened at $6.39 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a 52 week low of $2.88 and a 52 week high of $8.71. The firm’s 50-day simple moving average is $6.68 and its 200 day simple moving average is $5.96.

Powerfleet (NASDAQ:AIOT) last posted its earnings results on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). Sell-side analysts forecast that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

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.