I.D. Systems Inc. (IDSY) Upgraded to Hold by Zacks Investment Research
According to Zacks, “I.D. Systems Inc is a leading provider of wireless solutions for corporate asset management. I.D. Systems’ customers include 3M Company, American Axle, Archer Daniels Midland, Daimler Chrysler, Deere & Co., Ford Motor Company, General Dynamics, Hallmark Cards, Northrop Grumman, Target Corporation, Walgreen Co., the U.S. Navy, the U.S. Postal Service, and the U.S. Transportation Security Administration, among others. The company’s systems enable management to control and track the location and status of their assets in real time. “
Separately, B. Riley restated a buy rating and issued a $8.00 price target on shares of I.D. Systems in a research note on Thursday, August 11th.
I.D. Systems (NASDAQ:IDSY) opened at 5.16 on Wednesday. The company has a 50 day moving average price of $5.02 and a 200 day moving average price of $4.98. I.D. Systems has a 52-week low of $3.20 and a 52-week high of $5.43. The firm’s market capitalization is $68.38 million.
I.D. Systems (NASDAQ:IDSY) last posted its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. I.D. Systems had a negative net margin of 12.61% and a negative return on equity of 24.78%. On average, equities analysts forecast that I.D. Systems will post ($0.08) EPS for the current fiscal year.
In other news, major shareholder Lloyd I. Miller III acquired 40,296 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was acquired at an average cost of $4.92 per share, with a total value of $198,256.32. Following the transaction, the insider now owns 83,307 shares in the company, valued at $409,870.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Lloyd I. Miller III acquired 43,046 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were purchased at an average cost of $4.73 per share, with a total value of $203,607.58. Following the completion of the transaction, the insider now owns 83,307 shares in the company, valued at approximately $394,042.11. The disclosure for this purchase can be found here. Insiders own 13.82% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of I.D. Systems by 0.6% in the second quarter. Vanguard Group Inc. now owns 356,086 shares of the company’s stock worth $1,713,000 after buying an additional 2,200 shares during the period. Berson & Corrado Investment Advisors LLC bought a new stake in shares of I.D. Systems during the second quarter worth $100,000. Finally, Cannell Capital LLC boosted its stake in shares of I.D. Systems by 2.2% in the second quarter. Cannell Capital LLC now owns 1,198,276 shares of the company’s stock worth $5,764,000 after buying an additional 25,841 shares during the period. 38.98% of the stock is owned by institutional investors and hedge funds.
About I.D. Systems
I.D. Systems, Inc (I.D. Systems) develops, markets and sells wireless machine-to-machine solutions for managing and securing enterprise assets, which include industrial vehicles, such as forklifts and airport ground support equipment, rental vehicles, and transportation assets, such as dry van trailers, refrigerated trailers, railcars and containers.
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