On Track Innovations Ltd. (OTIV) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of On Track Innovations Ltd. (NASDAQ:OTIV) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

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 0.02% during trading on Wednesday, reaching $0.96. 5,000 shares of the company were exchanged. The company’s market capitalization is $39.27 million. The firm’s 50 day moving average price is $1.00 and its 200 day moving average price is $1.02. On Track Innovations has a one year low of $0.32 and a one year high of $1.38.

On Track Innovations (NASDAQ:OTIV) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company earned $5.10 million during the quarter, compared to the consensus estimate of $4.39 million. On Track Innovations had a negative net margin of 15.02% and a negative return on equity of 39.89%. Equities research analysts forecast that On Track Innovations will post ($0.07) earnings per share for the current fiscal year.

An institutional investor recently raised its position in On Track Innovations stock. Renaissance Technologies LLC increased its stake in On Track Innovations Ltd. (NASDAQ:OTIV) by 49.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 213,600 shares of the company’s stock after buying an additional 70,200 shares during the period. Renaissance Technologies LLC owned 0.52% of On Track Innovations worth $206,000 at the end of the most recent quarter. Institutional investors and hedge funds own 8.28% 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.

5 Day Chart for NASDAQ:OTIV

Get a free copy of the Zacks research report on On Track Innovations (OTIV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for On Track Innovations Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for On Track Innovations Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply

© 2006-2016 Mideast Time.