Jacob Asset Management of New York LLC Raises Holdings in PowerFleet, Inc. (NASDAQ:PWFL)

Jacob Asset Management of New York LLC boosted its stake in shares of PowerFleet, Inc. (NASDAQ:PWFLGet Rating) by 11.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 785,339 shares of the company’s stock after purchasing an additional 80,000 shares during the quarter. PowerFleet makes up 1.7% of Jacob Asset Management of New York LLC’s investment portfolio, making the stock its 18th biggest holding. Jacob Asset Management of New York LLC’s holdings in PowerFleet were worth $3,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in PowerFleet by 51.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 199,904 shares of the company’s stock worth $947,000 after purchasing an additional 68,246 shares during the period. Royce & Associates LP increased its holdings in PowerFleet by 18.2% during the 4th quarter. Royce & Associates LP now owns 1,177,534 shares of the company’s stock worth $5,582,000 after purchasing an additional 181,134 shares during the period. Potomac Capital Management Inc. purchased a new stake in PowerFleet during the 4th quarter worth about $806,000. Advisor Group Holdings Inc. increased its holdings in PowerFleet by 66.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 56,600 shares of the company’s stock worth $268,000 after purchasing an additional 22,645 shares during the period. Finally, Oak Family Advisors LLC increased its holdings in PowerFleet by 4.1% during the 4th quarter. Oak Family Advisors LLC now owns 84,918 shares of the company’s stock worth $403,000 after purchasing an additional 3,337 shares during the period. Institutional investors own 68.25% of the company’s stock.

In other news, Director Michael Brodsky acquired 18,226 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The stock was purchased at an average cost of $2.91 per share, with a total value of $53,037.66. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Steven Mark Towe acquired 31,754 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was purchased at an average cost of $3.15 per share, with a total value of $100,025.10. The disclosure for this purchase can be found here. Company insiders own 10.24% of the company’s stock.

A number of research firms have recently commented on PWFL. Canaccord Genuity Group dropped their price objective on PowerFleet from $12.00 to $9.00 in a report on Thursday, March 10th. Lake Street Capital decreased their price objective on PowerFleet from $9.00 to $7.00 in a research report on Thursday, March 10th. Zacks Investment Research cut PowerFleet from a “hold” rating to a “sell” rating in a research report on Wednesday, March 16th. StockNews.com began coverage on PowerFleet in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Canaccord Genuity Group reduced their price target on PowerFleet from $12.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, March 10th.

Shares of PWFL traded down $0.14 during mid-day trading on Thursday, hitting $2.80. The company’s stock had a trading volume of 1,205 shares, compared to its average volume of 60,099. The company has a current ratio of 1.99, a quick ratio of 1.57 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $3.04 and a 200 day simple moving average of $4.46. The firm has a market capitalization of $100.72 million, a P/E ratio of -5.28 and a beta of 1.72. PowerFleet, Inc. has a 1-year low of $2.53 and a 1-year high of $7.74.

PowerFleet (NASDAQ:PWFLGet Rating) last posted its quarterly earnings results on Wednesday, March 9th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.14). The business had revenue of $34.42 million during the quarter, compared to analyst estimates of $31.45 million. PowerFleet had a negative net margin of 10.53% and a negative return on equity of 13.41%. As a group, sell-side analysts predict that PowerFleet, Inc. will post -0.32 EPS for the current fiscal year.

About PowerFleet (Get Rating)

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.

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Institutional Ownership by Quarter for PowerFleet (NASDAQ:PWFL)

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