On Track Innovations (OTIV) Stock Is Up Today After Favorable Patent Ruling

NEW YORK (TheStreet) -- Shares of On Track Innovations were gaining 17.2% to $1.77 on heavy trading volume Thursday after the technology company received a favorable patent infringement ruling in its case against T-Mobile . The U.S. District Court, Southern District of New York, ruled that mobiles phones sold by T-Mobile used NFC technology that infringes on oti's U.S. Patent No. 6,045,043. The ruling means that T-Mobile will not be able to challenge the infringement of the patent when the case is argued in front of a jury. The court also ruled against T-Mobile's motion for non-infringement or invalidity of the patent. News of the ruling comes shortly after oti reported its fourth quarter results, in which it reported a loss of 8 cents a share, in line with analysts' estimates. The company reported revenue of $5.5 million for the quarter, an 11.7% decrease from the year-ago quarter, but above the $4.2 million analysts expected. About 2.6 million shares of oti were traded by 11:22 a.m. Thursday, well above the company's average trading volume of about 342,000 shares a day. TheStreet Ratings team rates ON TRACK INNOVATIONS as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: "We rate ON TRACK INNOVATIONS (OTIV) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share." You can view the full analysis from the report here: OTIV Ratings Report OTIV data by YCharts Must Read: Warren Buffett's Top 25 Stocks for 2015

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