Zacks: Analysts Set $1.63 Price Target for On Track Innovations Ltd (NASDAQ:OTIV)

On Track Innovations Ltd (NASDAQ:OTIV) has earned an average broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company.

Analysts have set a 1 year consensus price objective of $1.63 for the company and are predicting that the company will post ($0.02) earnings per share for the current quarter, according to Zacks. Zacks has also assigned On Track Innovations an industry rank of 78 out of 256 based on the ratings given to its competitors.

A number of research firms have recently weighed in on OTIV. Zacks Investment Research lowered On Track Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. TheStreet lowered On Track Innovations from a “c-” rating to a “d” rating in a research report on Monday, March 18th.

An institutional investor recently raised its position in On Track Innovations stock. Renaissance Technologies LLC lifted its holdings in shares of On Track Innovations Ltd (NASDAQ:OTIV) by 362.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,826 shares of the technology company’s stock after purchasing an additional 145,626 shares during the period. Renaissance Technologies LLC owned about 0.45% of On Track Innovations worth $118,000 as of its most recent SEC filing. 3.79% of the stock is owned by institutional investors and hedge funds.

Shares of On Track Innovations stock traded down $0.02 during trading hours on Friday, reaching $0.46. 61,820 shares of the company were exchanged, compared to its average volume of 92,941. On Track Innovations has a 1 year low of $0.46 and a 1 year high of $1.23. The firm has a market capitalization of $19.31 million, a P/E ratio of -9.43 and a beta of 1.40.

On Track Innovations (NASDAQ:OTIV) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). On Track Innovations had a negative return on equity of 24.36% and a negative net margin of 8.31%. The company had revenue of $3.01 million for the quarter, compared to analysts’ expectations of $4.43 million. On average, equities research analysts expect that On Track Innovations will post -0.06 EPS for the current year.

On Track Innovations Company Profile

On Track Innovations Ltd. designs, develops, and markets cashless payment solutions worldwide. It operates in two segments, Retail and Mass Transit Ticketing; and Petroleum. The company offers OTI UNO, a single interface and contactless reader that support the major card associations' applications, as well as wallets, such as Apple Pay, Google Pay, and Samsung Pay; OTI TRIO, a near-field communication and contactless reader, which offers three-in-one cashless payment card options comprising magnetic stripe (swipe), contact (chip), and contactless (tap); and OTI Interno, an original equipment manufacturer reader module with integrated antenna used for integration into mass transit validators and terminals.

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