Shares of PowerFleet, Inc. (AIOT) surged 6.53% in after-hours trading on Thursday, reflecting strong investor sentiment following a significant insider transaction. The stock's movement came shortly after the market close, indicating a rapid response to the newly released information.

The catalyst for this notable uptick appears to be the reported acquisition of common shares by PowerFleet's Chief Executive Officer, Steven Mark Towe. According to a filing made public after market hours, Towe increased his stake in the company, although the exact number of shares purchased was not immediately disclosed in the brief.

Insider buying, particularly by high-ranking executives such as CEOs, is often interpreted as a bullish signal by investors. It suggests that those with intimate knowledge of the company's operations and prospects have confidence in its future performance. This vote of confidence from PowerFleet's top executive seems to have resonated with the market, driving the stock's after-hours rally. As trading resumes in the next session, investors will be watching closely to see if this positive momentum continues.