Zacks Investment Research upgraded shares of I.D. Systems, Inc. (NASDAQ:IDSY) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $7.25 target price on the communications equipment provider’s stock.
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. “
Several other research analysts have also weighed in on the stock. Roth Capital set a $9.00 price objective on shares of I.D. Systems and gave the stock a buy rating in a research note on Tuesday, May 2nd. ValuEngine raised shares of I.D. Systems from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, B. Riley reissued a buy rating and set a $7.00 price objective on shares of I.D. Systems in a research note on Sunday, May 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. I.D. Systems has a consensus rating of Buy and a consensus target price of $7.63.
Shares of I.D. Systems (NASDAQ:IDSY) traded up 1.56% during midday trading on Friday, hitting $6.49. The stock had a trading volume of 38,830 shares. I.D. Systems has a 52-week low of $4.63 and a 52-week high of $7.34. The company’s market cap is $88.19 million. The company’s 50 day moving average is $6.68 and its 200 day moving average is $6.39.
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In other news, major shareholder Lloyd I. Miller III acquired 260,000 shares of I.D. Systems stock in a transaction that occurred on Wednesday, July 12th. The shares were acquired at an average price of $5.75 per share, with a total value of $1,495,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.17% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in IDSY. Renaissance Technologies LLC increased its stake in shares of I.D. Systems by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 174,915 shares of the communications equipment provider’s stock valued at $948,000 after buying an additional 3,100 shares during the period. Emancipation Management LLC increased its stake in shares of I.D. Systems by 6.3% in the first quarter. Emancipation Management LLC now owns 1,893,848 shares of the communications equipment provider’s stock valued at $11,988,000 after buying an additional 111,556 shares during the period. HighTower Advisors LLC increased its stake in shares of 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 during the period. Berson & Corrado Investment Advisors LLC increased its stake in shares of 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 during the period. Finally, American Capital Management Inc. increased its stake in shares of 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 during the period. Hedge funds and other institutional investors 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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