Zacks Investment Research Upgrades On Track Innovations Ltd (OTIV) to “Hold”

On Track Innovations Ltd (NASDAQ:OTIV) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Friday, May 5th.

According to Zacks, “On Track is a global leader in contactless microprocessor-based smart card systems. “

Shares of On Track Innovations (NASDAQ:OTIV) traded up 1.50% during trading on Friday, hitting $1.35. The stock had a trading volume of 29,090 shares. The firm has a 50 day moving average price of $1.51 and a 200-day moving average price of $1.48. On Track Innovations has a 52 week low of $0.83 and a 52 week high of $2.09. The stock’s market capitalization is $55.46 million.

On Track Innovations (NASDAQ:OTIV) last announced its earnings results on Wednesday, May 10th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.01. The company had revenue of $4.02 million for the quarter, compared to the consensus estimate of $5.08 million. On Track Innovations had a negative net margin of 4.60% and a negative return on equity of 19.70%. On average, equities research analysts forecast that On Track Innovations will post ($0.02) EPS for the current fiscal year.

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An institutional investor recently raised its position in On Track Innovations stock. Renaissance Technologies LLC boosted its position in On Track Innovations Ltd (NASDAQ:OTIV) by 135.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 695,800 shares of the technology company’s stock after buying an additional 400,900 shares during the period. Renaissance Technologies LLC owned 1.70% of On Track Innovations worth $1,211,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 7.38% of the company’s stock.

On Track Innovations Company Profile

On Track Innovations Ltd. is a developer of cashless payment solutions. The Company’s segments include Retail and Mass Transit, Petroleum, Parking and Other. The Company offers solutions for banking, mobile network operators, vending, mass transit, petroleum and parking. The Company provides its customers with training and installation support, customer service and technical support.

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