North Star Investment Management Corp. Acquires 295,200 Shares of PowerFleet, Inc. $AIOT

North Star Investment Management Corp. grew its holdings in PowerFleet, Inc. (NASDAQ:AIOT) by 21,085.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 296,600 shares of the company’s stock after buying an additional 295,200 shares during the quarter. North Star Investment Management Corp. owned approximately 0.22% of PowerFleet worth $914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIOT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in PowerFleet by 1.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company’s stock worth $888,000 after buying an additional 2,871 shares in the last quarter. Connors Investor Services Inc. increased its stake in shares of PowerFleet by 5.7% in the 4th quarter. Connors Investor Services Inc. now owns 56,000 shares of the company’s stock valued at $298,000 after buying an additional 3,000 shares during the period. R Squared Ltd raised its position in shares of PowerFleet by 40.6% during the fourth quarter. R Squared Ltd now owns 16,073 shares of the company’s stock worth $86,000 after acquiring an additional 4,640 shares during the last quarter. Clarus Group Inc. raised its position in shares of PowerFleet by 26.7% during the first quarter. Clarus Group Inc. now owns 25,790 shares of the company’s stock worth $79,000 after acquiring an additional 5,434 shares during the last quarter. Finally, Bantamac Capital LLC raised its position in shares of PowerFleet by 9.0% during the fourth quarter. Bantamac Capital LLC now owns 67,887 shares of the company’s stock worth $361,000 after acquiring an additional 5,621 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

PowerFleet Price Performance

AIOT opened at $3.76 on Tuesday. The company has a fifty day moving average price of $3.60 and a two-hundred day moving average price of $4.04. The firm has a market capitalization of $504.52 million, a PE ratio of -23.50 and a beta of 1.43. PowerFleet, Inc. has a 52 week low of $2.78 and a 52 week high of $5.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.13.

PowerFleet (NASDAQ:AIOT) last posted its quarterly earnings results on Monday, June 15th. The company reported $0.04 earnings per share for the quarter. PowerFleet had a negative return on equity of 1.33% and a negative net margin of 4.63%.The company had revenue of $114.49 million for the quarter, compared to the consensus estimate of $112.98 million. During the same quarter in the prior year, the business posted ($0.09) EPS. As a group, analysts anticipate that PowerFleet, Inc. will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AIOT shares. Weiss Ratings cut PowerFleet from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. UBS Group set a $7.00 price objective on PowerFleet in a report on Tuesday, June 16th. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Raymond James Financial cut their target price on shares of PowerFleet from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.67.

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.