NFC Times Exclusive Insight – Six months after taking the helm of Israel-based On Track Innovations, CEO Shlomi Cohen is seeking to convince investors he can turn around the contactless reader and NFC vendor, which has been struggling despite greater global demand for the company’s main product, contactless readers.
OTI reported its fourth quarter and full-year earnings Wednesday, causing its share price to initially spike to US$1.05 per share before falling back to $0.95. The price in early trading today was up again but was still down by more than 10% from when Cohen’s appointment was announced, Aug. 3. The share price had fallen to a historic low of $0.34 per share in January.