I.D. Systems (NASDAQ:IDSY) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of I.D. Systems (NASDAQ:IDSY) from a buy rating to a hold rating in a research report released on Friday morning, Zacks.com reports.

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. “

A number of other research analysts have also weighed in on the stock. ValuEngine raised shares of I.D. Systems from a hold rating to a buy rating in a research note on Friday, August 2nd. Barrington Research reaffirmed a buy rating and issued a $12.00 price objective on shares of I.D. Systems in a research note on Friday, August 2nd. TheStreet lowered shares of I.D. Systems from a c- rating to a d rating in a research note on Friday, August 2nd. Finally, National Securities reaffirmed a buy rating and issued a $10.00 price objective on shares of I.D. Systems in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. I.D. Systems currently has a consensus rating of Buy and a consensus target price of $9.80.

I.D. Systems stock opened at $5.79 on Friday. I.D. Systems has a 1-year low of $4.76 and a 1-year high of $7.24. The company has a market capitalization of $107.83 million, a price-to-earnings ratio of -26.32 and a beta of 1.05. The firm has a fifty day simple moving average of $5.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.70 and a quick ratio of 1.46.

In other news, CEO Chris Adams Wolfe purchased 19,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $5.15 per share, with a total value of $97,850.00. Following the completion of the transaction, the chief executive officer now directly owns 219,074 shares of the company’s stock, valued at $1,128,231.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDSY. Cutler Group LP bought a new position in shares of I.D. Systems during the first quarter valued at about $103,000. Wells Fargo & Company MN lifted its position in shares of I.D. Systems by 15.1% during the second quarter. Wells Fargo & Company MN now owns 17,678 shares of the communications equipment provider’s stock valued at $104,000 after purchasing an additional 2,320 shares in the last quarter. Northern Trust Corp lifted its position in shares of I.D. Systems by 28.9% during the fourth quarter. Northern Trust Corp now owns 42,468 shares of the communications equipment provider’s stock valued at $238,000 after purchasing an additional 9,520 shares in the last quarter. Balter Liquid Alternatives LLC lifted its position in shares of I.D. Systems by 11.9% during the second quarter. Balter Liquid Alternatives LLC now owns 52,520 shares of the communications equipment provider’s stock valued at $309,000 after purchasing an additional 5,591 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of I.D. Systems by 2.7% during the second quarter. Renaissance Technologies LLC now owns 330,380 shares of the communications equipment provider’s stock valued at $1,943,000 after purchasing an additional 8,783 shares in the last quarter. 59.65% of the stock is currently owned by institutional investors.

About I.D. Systems

I.D. Systems, Inc develops, markets, and sells wireless machine-to-machine solutions primarily in North America. The company provides integrated wireless solutions that utilize radio frequency identification, Wi-Fi, satellite or cellular communications, sensor technologies, and software to control, monitor, track, and analyze industrial and rental vehicles, as well as transportation assets.

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