PowerFleet, Inc. $AIOT Shares Bought by Kennedy Capital Management LLC

Kennedy Capital Management LLC boosted its position in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 292.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,970,918 shares of the company’s stock after acquiring an additional 1,468,573 shares during the period. Kennedy Capital Management LLC’s holdings in PowerFleet were worth $10,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in PowerFleet by 100.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after acquiring an additional 5,904 shares in the last quarter. MGO One Seven LLC acquired a new position in PowerFleet during the 4th quarter worth approximately $55,000. Krilogy Financial LLC acquired a new position in PowerFleet during the 4th quarter worth approximately $58,000. R Squared Ltd acquired a new position in PowerFleet during the 3rd quarter worth approximately $60,000. Finally, Prudential Financial Inc. acquired a new position in PowerFleet during the 2nd quarter worth approximately $65,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AIOT. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c-)” rating on shares of PowerFleet in a report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.00.

PowerFleet Stock Performance

Shares of PowerFleet stock opened at $4.22 on Monday. The company has a fifty day simple moving average of $3.43 and a 200-day simple moving average of $4.12. PowerFleet, Inc. has a 12-month low of $2.78 and a 12-month 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 price-to-earnings ratio of -18.35 and a beta of 1.43.

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.