Equities research analysts expect On Track Innovations Ltd (NASDAQ:OTIV) to announce sales of $4.78 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for On Track Innovations’ earnings, with estimates ranging from $4.35 million to $5.20 million. On Track Innovations reported sales of $6.15 million during the same quarter last year, which indicates a negative year over year growth rate of 22.3%. The firm is expected to report its next quarterly earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that On Track Innovations will report full-year sales of $20.46 million for the current financial year, with estimates ranging from $18.21 million to $22.70 million. For the next year, analysts expect that the business will post sales of $25.87 million, with estimates ranging from $25.73 million to $26.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow On Track Innovations.
On Track Innovations (NASDAQ:OTIV) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). The firm had revenue of $3.01 million during the quarter, compared to analyst estimates of $4.43 million. On Track Innovations had a negative return on equity of 24.36% and a negative net margin of 8.31%.
OTIV has been the topic of several analyst reports. TheStreet lowered shares of On Track Innovations from a “c-” rating to a “d” rating in a report on Monday, March 18th. Zacks Investment Research lowered On Track Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th.
A hedge fund recently raised its stake in On Track Innovations stock. Renaissance Technologies LLC lifted its position in On Track Innovations Ltd (NASDAQ:OTIV) by 362.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,826 shares of the technology company’s stock after acquiring an additional 145,626 shares during the quarter. Renaissance Technologies LLC owned approximately 0.45% of On Track Innovations worth $118,000 at the end of the most recent reporting period. 3.79% of the stock is currently owned by institutional investors and hedge funds.
OTIV traded down $0.01 during mid-day trading on Tuesday, hitting $0.48. The stock had a trading volume of 680 shares, compared to its average volume of 53,948. The firm has a market cap of $19.83 million, a PE ratio of -9.50 and a beta of 1.40. On Track Innovations has a 1-year low of $0.46 and a 1-year high of $1.23.
About On Track Innovations
On Track Innovations Ltd. designs, develops, and markets cashless payment solutions worldwide. It operates in two segments, Retail and Mass Transit Ticketing; and Petroleum. The company offers OTI UNO, a single interface and contactless reader that support the major card associations' applications, as well as wallets, such as Apple Pay, Google Pay, and Samsung Pay; OTI TRIO, a near-field communication and contactless reader, which offers three-in-one cashless payment card options comprising magnetic stripe (swipe), contact (chip), and contactless (tap); and OTI Interno, an original equipment manufacturer reader module with integrated antenna used for integration into mass transit validators and terminals.
Further Reading: Diversification
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