I.D. Systems Inc. (IDSY) Lifted to “Hold” at Zacks Investment Research
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 reaffirmed a buy rating and issued a $8.00 price objective on shares of I.D. Systems in a research note on Saturday, August 6th.
I.D. Systems (NASDAQ:IDSY) remained flat at $5.18 on Wednesday. The firm’s market cap is $68.64 million. The stock’s 50 day moving average is $5.04 and its 200-day moving average is $4.98. I.D. Systems has a one year low of $3.20 and a one year high of $5.43.
I.D. Systems (NASDAQ:IDSY) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. I.D. Systems had a negative net margin of 12.61% and a negative return on equity of 24.78%. Equities analysts anticipate that I.D. Systems will post ($0.08) EPS for the current fiscal year.
In other news, major shareholder Lloyd I. Miller III purchased 43,046 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were bought at an average cost of $4.73 per share, with a total value of $203,607.58. Following the completion of the transaction, the insider now directly owns 83,307 shares of the company’s stock, valued at $394,042.11. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lloyd I. Miller III purchased 40,296 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were purchased at an average cost of $4.92 per share, for a total transaction of $198,256.32. Following the completion of the transaction, the insider now directly owns 83,307 shares of the company’s stock, valued at $409,870.44. The disclosure for this purchase can be found here. 13.82% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Berson & Corrado Investment Advisors LLC purchased a new position in I.D. Systems during the second quarter worth $100,000. Vanguard Group Inc. raised 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 worth $1,713,000 after buying an additional 2,200 shares during the last quarter. Finally, Cannell Capital LLC raised 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 worth $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.
I.D. Systems Company Profile
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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