I.D. Systems, Inc. (IDSY) Rating Lowered to Hold at Zacks Investment Research
I.D. Systems, Inc. (NASDAQ:IDSY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Other research analysts have also issued reports about the company. B. Riley reiterated a “buy” rating and issued a $8.00 price objective on shares of I.D. Systems in a research report on Thursday, August 10th. Roth Capital lowered I.D. Systems from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $7.60 to $8.75 in a research report on Friday, May 5th. Finally, ValuEngine upgraded I.D. Systems from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $7.63.
Shares of I.D. Systems (IDSY) opened at 6.49 on Thursday. The company’s market cap is $88.19 million. The firm has a 50-day moving average price of $6.68 and a 200 day moving average price of $6.39. I.D. Systems has a 12 month low of $4.63 and a 12 month high of $7.34.
In other news, major shareholder Lloyd I. Miller III purchased 260,000 shares of the stock in a transaction dated Wednesday, July 12th. The stock was acquired at an average cost of $5.75 per share, for a total transaction of $1,495,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.17% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDSY. HighTower Advisors LLC raised its position in I.D. Systems by 1.5% in the first quarter. HighTower Advisors LLC now owns 19,900 shares of the communications equipment provider’s stock valued at $126,000 after buying an additional 300 shares in the last quarter. Northern Trust Corp raised its position in I.D. Systems by 2.6% in the second quarter. Northern Trust Corp now owns 30,613 shares of the communications equipment provider’s stock valued at $188,000 after buying an additional 784 shares in the last quarter. Berson & Corrado Investment Advisors LLC raised its position in I.D. Systems by 6.8% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 31,460 shares of the communications equipment provider’s stock valued at $193,000 after buying an additional 1,990 shares in the last quarter. American Capital Management Inc. raised its position in I.D. Systems by 50.1% in the second quarter. American Capital Management Inc. now owns 103,300 shares of the communications equipment provider’s stock valued at $633,000 after buying an additional 34,500 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. purchased a new position in I.D. Systems during the second quarter valued at approximately $837,000. Institutional investors and hedge funds own 44.33% of the company’s stock.
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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