Hodges Capital Management Inc. Lowers Holdings in PowerFleet, Inc. $AIOT

Hodges Capital Management Inc. cut its stake in PowerFleet, Inc. (NASDAQ:AIOT) by 84.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,515 shares of the company’s stock after selling 907,383 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.13% of PowerFleet worth $904,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Kopion Asset Management LLC increased its holdings in PowerFleet by 101.7% in the third quarter. Kopion Asset Management LLC now owns 1,553,700 shares of the company’s stock valued at $8,141,000 after buying an additional 783,501 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of PowerFleet by 135.4% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 107,776 shares of the company’s stock valued at $465,000 after acquiring an additional 61,992 shares during the period. Private Management Group Inc. increased its stake 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 purchasing an additional 1,105,673 shares in the last quarter. Geode Capital Management LLC raised its holdings in PowerFleet by 13.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,932,054 shares of the company’s stock worth $12,639,000 after purchasing an additional 343,580 shares during the period. Finally, Voss Capital LP raised its holdings in 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 purchasing an additional 2,838,900 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AIOT shares. Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings raised shares of PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Barrington Research reissued an “outperform” rating and issued a $15.00 price target on shares of PowerFleet in a report on Friday, February 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

PowerFleet Price Performance

Shares of NASDAQ AIOT opened at $3.72 on Thursday. The firm has a 50-day simple moving average of $5.12 and a 200-day simple moving average of $4.99. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $499.04 million, a price-to-earnings ratio of -16.17 and a beta of 1.33. PowerFleet, Inc. has a 52 week low of $3.59 and a 52 week high of $8.22.

PowerFleet (NASDAQ:AIOT) last released its quarterly earnings data on Monday, February 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $113.49 million during the quarter, compared to analyst estimates of $111.69 million. PowerFleet had a negative net margin of 7.00% and a negative return on equity of 5.23%. On average, equities analysts predict that PowerFleet, Inc. will post -0.32 earnings per share for the current fiscal year.

PowerFleet Company 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.