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 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) opened at 0.943 on Wednesday. The company’s 50 day moving average is $1.02 and its 200-day moving average is $1.02. On Track Innovations has a 1-year low of $0.32 and a 1-year high of $1.38. The company’s market capitalization is $38.57 million.

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On Track Innovations (NASDAQ:OTIV) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The firm had revenue of $5.10 million for 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 research analysts forecast that On Track Innovations will post ($0.07) EPS for the current year.

A hedge fund recently raised its stake in On Track Innovations stock. Renaissance Technologies LLC boosted its position in On Track Innovations Ltd. (NASDAQ:OTIV) by 49.0% during the first quarter, according to its most recent 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 about 0.52% of On Track Innovations worth $206,000 at the end of the most recent quarter. 8.28% of the stock is owned by institutional investors and hedge funds.

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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