5 Best Tech Stocks Under $5 to Buy

3. PowerFleet, Inc. (NASDAQ:AIOT)

Number of Hedge Fund Holders: 32

PowerFleet, Inc. (NASDAQ:AIOT) is one of the best tech stocks under $5 to buy. PowerFleet, Inc. (NASDAQ:AIOT) announced on May 27 a strategic partnership with Accenture, as part of which Accenture selected Powerfleet as a strategic safety solutions partner, promoting and recommending its end-to-end portfolio. Under the terms of the partnership, Powerfleet would be integrated into Accenture’s Innovation and Technology Centre in Milan, which is a flagship facility.

Management further stated that through the collaboration, customers would benefit from expert-led engagements, immersive demonstrations, and tailored solutions addressing the “evolving safety and compliance challenges in increasingly complex environments on-site and on-road”. In addition, Powerfleet’s technologies would be presented as a core component of Accenture’s safety and digital transformation offerings, allowing organizations to explore real-world applications of risk reduction, connected safety, and operational efficiency. Steve Towe, Chief Executive Officer at Powerfleet, stated that the integration of their solutions within Accenture’s innovation ecosystem allows accelerated access to smarter, safer operations for enterprises across Central Europe and beyond.

PowerFleet, Inc. (NASDAQ:AIOT) provides fleet management solutions for industrial, logistics, and vehicles. Its offerings include wireless Internet of Things and machine-to-machine solutions for securing, tracking, controlling, and managing enterprise assets. The company operates through the following geographical segments: the United States, Israel, and Other.