I.D. Systems (NASDAQ:IDSY) Rating Lowered to Hold at ValuEngine

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I.D. Systems (NASDAQ:IDSY) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

A number of other analysts have also weighed in on IDSY. National Securities restated a “buy” rating and set a $10.00 target price on shares of I.D. Systems in a report on Friday, August 2nd. Zacks Investment Research lowered I.D. Systems from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research restated a “buy” rating and set a $12.00 target price on shares of I.D. Systems in a report on Friday, August 2nd. Finally, TheStreet lowered I.D. Systems from a “c-” rating to a “d” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. I.D. Systems currently has a consensus rating of “Buy” and an average price target of $9.80.

I.D. Systems stock opened at $5.26 on Tuesday. The business has a fifty day moving average of $5.88 and a two-hundred day moving average of $5.83. The company has a quick ratio of 1.24, a current ratio of 1.56 and a debt-to-equity ratio of 0.05. The firm has a market cap of $102.75 million, a P/E ratio of -23.91 and a beta of 1.05. I.D. Systems has a twelve month low of $4.76 and a twelve month high of $7.24.

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

Several institutional investors and hedge funds have recently modified their holdings of IDSY. Cutler Group LP purchased a new position in I.D. Systems in the 1st quarter worth $103,000. Wells Fargo & Company MN raised its stake in I.D. Systems by 15.1% in the 2nd quarter. Wells Fargo & Company MN now owns 17,678 shares of the communications equipment provider’s stock worth $104,000 after acquiring an additional 2,320 shares during the last quarter. Northern Trust Corp raised its stake in I.D. Systems by 28.9% in the 4th quarter. Northern Trust Corp now owns 42,468 shares of the communications equipment provider’s stock worth $238,000 after acquiring an additional 9,520 shares during the last quarter. Balter Liquid Alternatives LLC raised its stake in I.D. Systems by 11.9% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 52,520 shares of the communications equipment provider’s stock worth $309,000 after acquiring an additional 5,591 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in I.D. Systems by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 330,380 shares of the communications equipment provider’s stock worth $1,943,000 after acquiring an additional 8,783 shares during the last quarter. Hedge funds and other institutional investors own 62.25% of the company’s stock.

I.D. Systems Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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