On Track Innovations Ltd (NASDAQ:OTIV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “On Track is a global leader in contactless microprocessor-based smart card systems. “
Shares of On Track Innovations (NASDAQ:OTIV) traded down 1.82% during mid-day trading on Friday, reaching $1.62. The company’s stock had a trading volume of 29,566 shares. The firm’s market capitalization is $66.55 million. The firm has a 50-day moving average of $1.63 and a 200-day moving average of $1.41. On Track Innovations has a 52 week low of $0.80 and a 52 week high of $2.09.
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An institutional investor recently raised its position in On Track Innovations stock. Renaissance Technologies LLC boosted its stake in shares of On Track Innovations Ltd (NASDAQ:OTIV) by 135.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 695,800 shares of the technology company’s stock after buying an additional 400,900 shares during the period. Renaissance Technologies LLC owned 1.70% of On Track Innovations worth $1,211,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 7.38% 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.
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