On Track Innovations Ltd. (NASDAQ:OTIV) was downgraded by Zacks Investment Research 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. “

On Track Innovations (NASDAQ:OTIV) opened at 0.943 on Wednesday. The firm has a 50-day moving average of $1.02 and a 200-day moving average of $1.02. The stock’s market capitalization is $38.57 million. On Track Innovations has a 52-week low of $0.32 and a 52-week high of $1.38.

On Track Innovations (NASDAQ:OTIV) last posted its quarterly earnings results on Wednesday, August 10th. The company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The business 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%. On average, equities analysts expect that On Track Innovations will post ($0.07) EPS for the current year.

An institutional investor recently raised its position in On Track Innovations stock. Renaissance Technologies LLC raised its position in On Track Innovations Ltd. (NASDAQ:OTIV) by 49.0% during the first quarter, according to its most recent disclosure 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 about 0.52% of On Track Innovations worth $206,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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

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