Archon Capital Management LLC Acquires 117,578 Shares of I.D. Systems, Inc. (IDSY)

Archon Capital Management LLC boosted its holdings in I.D. Systems, Inc. (NASDAQ:IDSY) by 22.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 643,255 shares of the communications equipment provider’s stock after acquiring an additional 117,578 shares during the quarter. I.D. Systems accounts for approximately 0.4% of Archon Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Archon Capital Management LLC owned 3.65% of I.D. Systems worth $4,001,000 as of its most recent SEC filing.

Separately, Fairpointe Capital LLC bought a new position in shares of I.D. Systems during the 4th quarter worth approximately $512,000. 42.64% of the stock is currently owned by hedge funds and other institutional investors.

In other I.D. Systems news, major shareholder Cannell Capital Llc acquired 96,747 shares of I.D. Systems stock in a transaction that occurred on Wednesday, June 6th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $577,579.59. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Chris Adam Wolfe acquired 10,000 shares of I.D. Systems stock in a transaction that occurred on Friday, May 11th. The stock was acquired at an average price of $5.90 per share, with a total value of $59,000.00. Following the completion of the purchase, the chief executive officer now directly owns 170,955 shares in the company, valued at approximately $1,008,634.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 118,670 shares of company stock valued at $708,237. 8.60% of the stock is currently owned by company insiders.



IDSY has been the topic of several recent analyst reports. Roth Capital raised shares of I.D. Systems from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Friday, March 9th. Lake Street Capital reissued a “buy” rating and set a $9.50 target price (up previously from $8.50) on shares of I.D. Systems in a research report on Friday, March 2nd. LADENBURG THALM/SH SH initiated coverage on shares of I.D. Systems in a research report on Wednesday, March 28th. They set a “buy” rating and a $10.00 target price on the stock. Zacks Investment Research raised shares of I.D. Systems from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. Finally, ValuEngine raised shares of I.D. Systems from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. I.D. Systems currently has an average rating of “Buy” and an average price target of $9.05.

Shares of IDSY stock traded up $0.15 during trading hours on Thursday, hitting $6.44. 4,151 shares of the company were exchanged, compared to its average volume of 38,260. I.D. Systems, Inc. has a 52-week low of $5.50 and a 52-week high of $8.05.

I.D. Systems (NASDAQ:IDSY) last issued its quarterly earnings results on Wednesday, May 2nd. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. I.D. Systems had a negative net margin of 6.42% and a negative return on equity of 11.01%. The company had revenue of $13.38 million during the quarter, compared to analyst estimates of $11.47 million. equities analysts forecast that I.D. Systems, Inc. will post -0.09 earnings per share for the current fiscal year.

About I.D. Systems

I.D. Systems, Inc develops, markets, and sells wireless machine-to-machine solutions in the United States and internationally. The company offers integrated wireless solutions that utilize radio frequency identification, Wi-Fi, satellite or cellular communications, sensor technologies, and software to control, track, monitor, and analyze industrial vehicles, rental vehicles, and transportation assets.

Institutional Ownership by Quarter for I.D. Systems (NASDAQ:IDSY)

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