I.D. Systems Inc. (NASDAQ:IDSY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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 reissued a “buy” rating and set a $8.00 price target on shares of I.D. Systems in a report on Monday, August 1st.
Shares of I.D. Systems (NASDAQ:IDSY) opened at 5.18 on Wednesday. I.D. Systems has a 12-month low of $3.20 and a 12-month high of $5.43. The stock’s 50 day moving average is $5.03 and its 200-day moving average is $4.98. The stock’s market capitalization is $68.64 million.
I.D. Systems (NASDAQ:IDSY) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.05. I.D. Systems had a negative return on equity of 24.78% and a negative net margin of 12.61%. On average, analysts expect that I.D. Systems will post ($0.08) earnings per share for the current year.
In related news, major shareholder Lloyd I. Miller III acquired 40,296 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were acquired at an average cost of $4.92 per share, with a total value of $198,256.32. Following the completion of the acquisition, the insider now directly owns 83,307 shares in the company, valued at approximately $409,870.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Lloyd I. Miller III acquired 43,046 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were bought at an average cost of $4.73 per share, for a total transaction of $203,607.58. Following the completion of the acquisition, the insider now owns 83,307 shares of the company’s stock, valued at $394,042.11. The disclosure for this purchase can be found here. Company insiders own 13.82% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Berson & Corrado Investment Advisors LLC bought a new position in I.D. Systems during the second quarter valued at about $100,000. Vanguard Group Inc. increased its position in I.D. Systems by 0.6% in the second quarter. Vanguard Group Inc. now owns 356,086 shares of the company’s stock valued at $1,713,000 after buying an additional 2,200 shares during the last quarter. Finally, Cannell Capital LLC increased its position in I.D. Systems by 2.2% in the second quarter. Cannell Capital LLC now owns 1,198,276 shares of the company’s stock valued at $5,764,000 after buying an additional 25,841 shares during the last quarter. 38.98% of the stock is currently 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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