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

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

A number of other brokerages have also issued reports on OTIV. Northland Securities set a $2.00 target price on shares of On Track Innovations and gave the stock a “buy” rating in a research report on Wednesday, July 19th. ValuEngine lowered shares of On Track Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet raised shares of On Track Innovations from a “d” rating to a “c-” rating in a research report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $2.38.

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

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Geller Family Office Services LLC bought a new stake in shares of On Track Innovations in the 3rd quarter worth about $1,232,000. Sarbit Advisory Services Inc. grew its holdings in shares of On Track Innovations by 43.0% in the 2nd quarter. Sarbit Advisory Services Inc. now owns 1,309,402 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 394,051 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of On Track Innovations by 17.7% in the 1st quarter. Renaissance Technologies LLC now owns 819,300 shares of the technology company’s stock worth $1,352,000 after purchasing an additional 123,500 shares during the last quarter. 6.06% of the stock is currently 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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