Yarbrough Capital LLC Makes New $372,000 Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Yarbrough Capital LLC bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 55,839 shares of the company’s stock, valued at approximately $372,000.

Separately, Kopion Asset Management LLC acquired a new position in shares of Powerfleet in the 4th quarter valued at approximately $7,361,000. 73.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Powerfleet in a research report on Thursday, November 21st. Northland Securities increased their price target on Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Barrington Research boosted their target price on shares of Powerfleet from $10.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd.

Powerfleet Price Performance

Shares of Powerfleet stock opened at $6.10 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25. Powerfleet, Inc. has a 52 week low of $2.85 and a 52 week high of $7.38. The firm has a 50 day moving average price of $6.51.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $77.02 million during the quarter, compared to analyst estimates of $74.54 million. During the same period in the prior year, the business earned ($0.14) EPS. As a group, sell-side analysts predict that Powerfleet, Inc. will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total value of $578,170.50. Following the transaction, the insider now owns 240,962 shares of the company’s stock, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.79% of the company’s stock.

Powerfleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.