PowerFleet, Inc. $AIOT Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc cut its position in PowerFleet, Inc. (NASDAQ:AIOT) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,878,517 shares of the company’s stock after selling 97,298 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned 1.41% of PowerFleet worth $9,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Voss Capital LP grew its position in shares of PowerFleet by 104.3% in the 2nd quarter. Voss Capital LP now owns 5,559,491 shares of the company’s stock worth $23,961,000 after acquiring an additional 2,838,900 shares in the last quarter. Private Management Group Inc. boosted its holdings in shares of PowerFleet by 29.3% in the 2nd quarter. Private Management Group Inc. now owns 4,884,151 shares of the company’s stock valued at $21,051,000 after buying an additional 1,105,673 shares during the period. CenterBook Partners LP boosted its holdings in shares of PowerFleet by 40.4% in the 2nd quarter. CenterBook Partners LP now owns 4,040,568 shares of the company’s stock valued at $17,415,000 after buying an additional 1,162,742 shares during the period. Geode Capital Management LLC grew its position in shares of PowerFleet by 13.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,932,054 shares of the company’s stock valued at $12,639,000 after buying an additional 343,580 shares during the last quarter. Finally, Samjo Management LLC raised its stake in PowerFleet by 6.1% during the second quarter. Samjo Management LLC now owns 2,229,550 shares of the company’s stock worth $9,609,000 after acquiring an additional 127,350 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Barrington Research reiterated an “outperform” rating and issued a $15.00 target price on shares of PowerFleet in a research report on Monday, January 5th. William Blair restated an “outperform” rating on shares of PowerFleet in a research report on Tuesday, November 11th. Finally, Zacks Research raised PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PowerFleet has a consensus rating of “Moderate Buy” and an average price target of $10.50.

PowerFleet Stock Performance

Shares of AIOT opened at $5.37 on Tuesday. The company has a 50-day moving average of $5.23 and a two-hundred day moving average of $4.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.93. PowerFleet, Inc. has a one year low of $3.70 and a one year high of $8.71. The stock has a market cap of $718.61 million, a price-to-earnings ratio of -17.32 and a beta of 1.34.

PowerFleet (NASDAQ:AIOT) last released its earnings results on Monday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $111.68 million during the quarter, compared to analyst estimates of $105.51 million. PowerFleet had a negative return on equity of 9.00% and a negative net margin of 9.70%. On average, equities research analysts expect that PowerFleet, Inc. will post -0.32 earnings per share for the current year.

PowerFleet Profile

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.