On Track Innovations Ltd (NASDAQ:OTIV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “On Track is a global leader in contactless microprocessor-based smart card systems. “

Several other equities analysts also recently commented on OTIV. Northland Securities set a $2.00 target price on On Track Innovations and gave the company a “buy” rating in a research report on Wednesday, July 19th. ValuEngine downgraded On Track Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet upgraded On Track Innovations from a “d” rating to a “c-” rating in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $2.38.

On Track Innovations (NASDAQ:OTIV) opened at $1.20 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.52 and a debt-to-equity ratio of 0.09. On Track Innovations has a 1 year low of $1.01 and a 1 year high of $2.09.

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Several institutional investors and hedge funds have recently modified their holdings of OTIV. Renaissance Technologies LLC raised its position in shares of On Track Innovations by 17.7% during 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 during the last quarter. Sarbit Advisory Services Inc. raised its position in shares of On Track Innovations by 43.0% during 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 during the last quarter. Finally, Geller Family Office Services LLC bought a new position in shares of On Track Innovations during the third quarter worth about $1,232,000. Institutional investors own 6.06% of the company’s stock.

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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