Otonomo Technologies (NASDAQ:OTMO) Downgraded by Zacks Investment Research to “Hold”

Otonomo Technologies (NASDAQ:OTMOGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Otonomo Technologies Ltd. is a provider of platform and marketplace for vehicle data and positioned at the epicenter of the data revolution in the automotive and mobility space. Otonomo Technologies Ltd., formerly known as Software Acquisition Group Inc. II, is based in HERZLIYA, ISRAEL. “

OTMO has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Otonomo Technologies in a report on Wednesday, May 18th. B. Riley decreased their target price on Otonomo Technologies from $7.50 to $4.50 in a report on Monday, May 2nd.

Shares of Otonomo Technologies stock opened at $1.34 on Tuesday. Otonomo Technologies has a one year low of $1.15 and a one year high of $10.05. The stock’s fifty day moving average is $1.64 and its 200 day moving average is $2.50.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley bought a new stake in shares of Otonomo Technologies during the first quarter valued at approximately $289,000. Millennium Management LLC raised its stake in shares of Otonomo Technologies by 149.4% during the second quarter. Millennium Management LLC now owns 57,900 shares of the company’s stock valued at $576,000 after acquiring an additional 34,684 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Otonomo Technologies during the first quarter valued at approximately $47,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Otonomo Technologies during the first quarter valued at approximately $674,000. 51.43% of the stock is owned by institutional investors and hedge funds.

About Otonomo Technologies (Get Rating)

Otonomo Technologies Ltd. provides an automotive data service platform and marketplace that enables car manufacturers, drivers, and service providers to be part of a connected ecosystem. The company offers cabin data, including the state of doors and windows, ADAS, and infotainment data; engine-related information, such as fuel, oil, error codes or battery voltage, and state of charge; maintenance data comprising time or distance traveled and diagnostic trouble codes; data related to the specific vehicles, which include making, model, year, and fuel type; driving data consisting of location, distance travelled, odometer, and heading and speed; and environmental data that include external weather and temperature, and road hazards and road signs.

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