I.D. Systems’ (IDSY) Buy Rating Reaffirmed at B. Riley

B. Riley reissued their buy rating on shares of I.D. Systems, Inc. (NASDAQ:IDSY) in a research note published on Friday morning. The firm currently has a $8.50 target price on the communications equipment provider’s stock.

Separately, Zacks Investment Research raised I.D. Systems from a hold rating to a buy rating and set a $7.75 target price on the stock in a research report on Thursday, July 20th.

Shares of I.D. Systems (IDSY) traded down $0.21 on Friday, hitting $7.01. The stock had a trading volume of 45,700 shares, compared to its average volume of 30,507. I.D. Systems has a 12-month low of $4.63 and a 12-month high of $7.75.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in shares of I.D. Systems by 1.5% in the 1st quarter. HighTower Advisors LLC now owns 19,900 shares of the communications equipment provider’s stock valued at $126,000 after acquiring an additional 300 shares during the period. Ardsley Advisory Partners increased its position in shares of I.D. Systems by 86.9% in the 2nd quarter. Ardsley Advisory Partners now owns 264,021 shares of the communications equipment provider’s stock valued at $1,636,000 after acquiring an additional 122,779 shares during the period. Punch & Associates Investment Management Inc. acquired a new position in shares of I.D. Systems in the 2nd quarter valued at $837,000. American Capital Management Inc. increased its position in shares of I.D. Systems by 50.1% in the 2nd quarter. American Capital Management Inc. now owns 103,300 shares of the communications equipment provider’s stock valued at $633,000 after acquiring an additional 34,500 shares during the period. Finally, Archon Capital Management LLC acquired a new position in shares of I.D. Systems in the 3rd quarter valued at $1,386,000. 39.21% of the stock is currently 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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