Samjo Management LLC Invests $9.72 Million in Powerfleet, Inc. (NASDAQ:AIOT)

Samjo Management LLC bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,459,350 shares of the company’s stock, valued at approximately $9,719,000. Powerfleet accounts for 3.7% of Samjo Management LLC’s investment portfolio, making the stock its 8th largest holding. Samjo Management LLC owned about 1.10% of Powerfleet at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIOT. Signaturefd LLC acquired a new stake in Powerfleet in the 4th quarter valued at about $25,000. Financial Management Professionals Inc. acquired a new stake in Powerfleet in the fourth quarter valued at approximately $50,000. Spire Wealth Management purchased a new position in Powerfleet in the fourth quarter worth approximately $55,000. Private Advisor Group LLC purchased a new stake in shares of Powerfleet in the 4th quarter valued at approximately $68,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at $84,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Powerfleet Stock Down 11.0 %

Shares of Powerfleet stock opened at $4.27 on Friday. The firm’s fifty day simple moving average is $6.42 and its 200-day simple moving average is $6.10. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a 12 month low of $3.70 and a 12 month high of $8.71.

Powerfleet (NASDAQ:AIOT) last announced its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, analysts anticipate that Powerfleet, Inc. will post -0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Powerfleet 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.