On Track Innovations (NASDAQ:OTIV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “On Track is a global leader in contactless microprocessor-based smart card systems. “
Other research analysts have also issued research reports about the company. Northland Securities restated a “buy” rating and set a $2.50 price objective on shares of On Track Innovations in a research report on Wednesday, October 4th. TheStreet upgraded On Track Innovations from a “d” rating to a “c-” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine upgraded On Track Innovations from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. On Track Innovations currently has an average rating of “Hold” and a consensus target price of $2.38.
Shares of On Track Innovations (OTIV) opened at $1.01 on Tuesday. On Track Innovations has a 12 month low of $1.01 and a 12 month high of $2.09. The company has a quick ratio of 1.32, a current ratio of 1.59 and a debt-to-equity ratio of 0.07.
Several institutional investors have recently modified their holdings of OTIV. Geller Family Office Services LLC purchased a new position in On Track Innovations in the third quarter worth about $1,232,000. Renaissance Technologies LLC grew its position in On Track Innovations by 17.7% in the first quarter. Renaissance Technologies LLC now owns 819,300 shares of the technology company’s stock worth $1,352,000 after acquiring an additional 123,500 shares in the last quarter. Finally, Sarbit Advisory Services Inc. grew its position in On Track Innovations by 43.0% in the second quarter. Sarbit Advisory Services Inc. now owns 1,309,402 shares of the technology company’s stock worth $1,715,000 after acquiring an additional 394,051 shares in the last quarter. Hedge funds and other institutional investors own 8.14% 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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