On Track Innovations Ltd. (OTI) (NASDAQ:OTIV) stock identified change of 26.91% away from 52-week low price and recently located move of -50.14% off 52-week high price. It has market worth of $27.28M. OTIV stock has been recorded -6.50% away from 50 day moving average and -21.73% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.44% off 20-day moving average.
On Track Innovations Ltd. (OTI) (NASDAQ:OTIV) declared that it had received a significant order for more than 6,000 advanced payment systems for use in Russian rail ticketing systems. The systems are due to be delivered primarily in the second quarter.
This is an additional large-scale order from the Russian market following OTI’s successful acceptance of the mandatory MIR certification in the ever-growing Russian self-service market. OTI delivered 11,000 cashless payment systems to Russia in 2018 and expects a higher rate of deliveries in 2019.
OTI’s CEO Shlomi Cohen commented, “We are very pleased with this new order from the Russian market. This confirms that our strategy to gain MIR certification and target this growing market is certainly paying off, generating increasing revenues for OTI. We won this order based on our technological capabilities and a demonstration of the highest level of security. This important customer has become another key reference for us in Russia and we look forward to accelerating our momentum in the region over the coming quarters and years.”
MIR approval was granted to OTI in August 2018, enabling Russian consumers to use an OTI cashless payment solution as a convenient way to make payments through unattended automated machines. The Russian national payment system created the MIR payment card at the end of 2015 with the primary objective of sovereign payments to be independent of foreign organizations. In only 3 years, the number of MIR cards issued has grown quickly and currently amounts to over 37 million, around 20% market share, based on data from the Russian Central Bank.
The Consumer Goods sector company, On Track Innovations Ltd. noticed change of 9.47% to $0.7 along volume of 218450 shares in recent session compared to an average volume of 87.05K. The stock observed return of 1.21% in 5 days trading activity. The stock was at -19.76% over one month performance. OTIV’s shares are at 7.12% for the quarter and driving a -36.87% return over the course of the past year and is now at 8.07% since this point in 2018. The average volatility for the week at 6.93% and for month was at 6.12%. There are 42.79M shares outstanding and 37.11M shares are floated in market. Right now the stock beta is 1.44.