Zacks Investment Research downgraded shares of On Track Innovations (NASDAQ:OTIV) from a hold rating to a sell rating in a research report released on Thursday, November 23rd.
According to Zacks, “On Track is a global leader in contactless microprocessor-based smart card systems. “
Several other analysts have also recently weighed in on OTIV. Northland Securities set a $3.00 price objective on shares of On Track Innovations and gave the stock a buy rating in a report on Thursday, August 10th. TheStreet upgraded shares of On Track Innovations from a d rating to a c- rating in a report on Wednesday, August 23rd. Finally, ValuEngine lowered shares of On Track Innovations from a hold rating to a sell rating in a report on Thursday, November 9th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $2.38.
On Track Innovations (NASDAQ:OTIV) traded down $0.05 during mid-day trading on Thursday, hitting $1.01. 131,280 shares of the stock were exchanged, compared to its average volume of 140,376. On Track Innovations has a twelve month low of $1.01 and a twelve month high of $2.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.59 and a quick ratio of 1.32.
Several large investors have recently made changes to their positions in OTIV. Geller Family Office Services LLC purchased a new position in shares of On Track Innovations in the 3rd quarter valued at $1,232,000. Sarbit Advisory Services Inc. grew its position in shares of On Track Innovations by 43.0% in the 2nd quarter. Sarbit Advisory Services Inc. now owns 1,309,402 shares of the technology company’s stock valued at $1,715,000 after buying an additional 394,051 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of On Track Innovations by 17.7% in the 1st quarter. Renaissance Technologies LLC now owns 819,300 shares of the technology company’s stock valued at $1,352,000 after buying an additional 123,500 shares during the last quarter. 8.14% of the stock is currently owned by institutional investors.
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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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