Zacks Investment Research downgraded shares of On Track Innovations (NASDAQ:OTIV) from a hold rating to a sell rating in a report released on Tuesday morning.
According to Zacks, “On Track is a global leader in contactless microprocessor-based smart card systems. “
Other analysts have also issued research reports about the stock. TheStreet raised shares of On Track Innovations from a d rating to a c- rating in a report on Wednesday, August 23rd. ValuEngine lowered shares of On Track Innovations from a hold rating to a sell rating in a report on Thursday, November 9th. Finally, Northland Securities reaffirmed a buy rating and set a $2.50 price objective on shares of On Track Innovations in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. On Track Innovations currently has an average rating of Hold and an average price target of $2.38.
Shares of On Track Innovations (NASDAQ OTIV) opened at $1.02 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 1.59. On Track Innovations has a fifty-two week low of $1.01 and a fifty-two week high of $2.09.
Several institutional investors have recently modified their holdings of OTIV. Geller Family Office Services LLC acquired a new stake in shares of On Track Innovations in the third quarter valued at approximately $1,232,000. Sarbit Advisory Services Inc. increased its holdings in shares of 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 valued at $1,715,000 after purchasing an additional 394,051 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of On Track Innovations by 17.7% in the first quarter. Renaissance Technologies LLC now owns 819,300 shares of the technology company’s stock valued at $1,352,000 after purchasing an additional 123,500 shares in the last quarter. 8.14% of the stock is owned by institutional investors and hedge funds.
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About On Track Innovations
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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