PowerFleet, Inc. $AIOT Shares Sold by AYAL Capital Advisors Ltd

AYAL Capital Advisors Ltd lowered its position in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 62.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,069 shares of the company’s stock after selling 532,931 shares during the quarter. AYAL Capital Advisors Ltd owned about 0.25% of PowerFleet worth $1,410,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of PowerFleet during the 2nd quarter valued at approximately $919,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $888,000 after purchasing an additional 2,871 shares during the period. The Manufacturers Life Insurance Company increased its stake in PowerFleet by 31.3% during the second quarter. The Manufacturers Life Insurance Company now owns 45,113 shares of the company’s stock valued at $194,000 after purchasing an additional 10,766 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of PowerFleet by 39.4% during the second quarter. Squarepoint Ops LLC now owns 494,646 shares of the company’s stock worth $2,132,000 after purchasing an additional 139,847 shares during the period. Finally, Ardsley Advisory Partners LP bought a new position in shares of PowerFleet in the 2nd quarter worth about $754,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a research report on Tuesday, November 11th. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday. Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research report on Wednesday, November 26th. Zacks Research upgraded PowerFleet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PowerFleet in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PowerFleet has an average rating of “Moderate Buy” and an average price target of $10.50.

PowerFleet Price Performance

NASDAQ AIOT opened at $5.28 on Friday. The company has a 50-day moving average price of $5.06 and a two-hundred day moving average price of $4.78. PowerFleet, Inc. has a 52 week low of $3.70 and a 52 week high of $8.71. The stock has a market cap of $706.57 million, a price-to-earnings ratio of -17.03 and a beta of 1.35. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49.

PowerFleet (NASDAQ:AIOT) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. PowerFleet had a negative return on equity of 9.00% and a negative net margin of 9.70%.The business had revenue of $111.68 million during the quarter, compared to the consensus estimate of $105.51 million. Analysts forecast that PowerFleet, Inc. will post -0.32 EPS for the current year.

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.