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

Samjo Management LLC acquired a new stake in Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,459,350 shares of the company’s stock, valued at approximately $9,719,000. Powerfleet accounts for about 3.7% of Samjo Management LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in AIOT. Signaturefd LLC purchased a new stake in shares of Powerfleet during the 4th quarter worth $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Powerfleet in the fourth quarter valued at about $50,000. Spire Wealth Management purchased a new stake in Powerfleet during the fourth quarter worth about $55,000. Private Advisor Group LLC acquired a new position in Powerfleet during the fourth quarter worth about $68,000. Finally, HighTower Advisors LLC purchased a new position in Powerfleet in the fourth quarter valued at about $84,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Powerfleet Trading Down 11.0 %

Shares of NASDAQ AIOT opened at $4.27 on Friday. The firm’s 50-day moving average is $6.42 and its two-hundred day moving average is $6.10. Powerfleet, Inc. has a 12-month low of $3.70 and a 12-month high of $8.71. 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 (NASDAQ:AIOT) last posted its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Research analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current year.

Analysts Set New Price Targets

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

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.