I.D. Systems, Inc. (IDSY) Upgraded at Zacks Investment Research
I.D. Systems, Inc. (NASDAQ:IDSY) was upgraded by Zacks Investment Research from a “sell” 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. “
Several other equities analysts have also recently issued reports on IDSY. Roth Capital set a $9.00 price objective on I.D. Systems and gave the stock a “buy” rating in a report on Tuesday, March 21st. B. Riley reaffirmed a “buy” rating and set a $7.00 price objective on shares of I.D. Systems in a report on Tuesday, May 2nd. Finally, ValuEngine raised I.D. Systems from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. I.D. Systems currently has a consensus rating of “Hold” and a consensus target price of $7.42.
I.D. Systems (NASDAQ:IDSY) traded down 0.15% on Thursday, reaching $6.50. The company had a trading volume of 7,609 shares. I.D. Systems has a 52-week low of $4.26 and a 52-week high of $7.34. The company’s 50-day moving average is $6.35 and its 200-day moving average is $6.12. The company’s market capitalization is $91.50 million.
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Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position 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 in the last quarter. Berson & Corrado Investment Advisors LLC boosted its position in shares of I.D. Systems by 69.3% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 29,470 shares of the communications equipment provider’s stock valued at $187,000 after buying an additional 12,065 shares in the last quarter. Emancipation Management LLC boosted its position 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 in the last quarter. Finally, HighTower Advisors LLC boosted its position 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 in the last quarter. 44.07% of the stock is owned by hedge funds and other institutional investors.
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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