Otonomo Technologies (NASDAQ:OTMO) Now Covered by Citigroup

Analysts at Citigroup assumed coverage on shares of Otonomo Technologies (NASDAQ:OTMOGet Rating) in a report released on Friday, The Fly reports. The brokerage set a “neutral” rating on the stock.

Several other research firms have also recently issued reports on OTMO. B. Riley cut their price target on shares of Otonomo Technologies from $7.50 to $4.50 in a report on Monday, May 2nd. Zacks Investment Research upgraded shares of Otonomo Technologies from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Wednesday, May 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $6.00 target price on shares of Otonomo Technologies in a research note on Wednesday, May 18th.

OTMO opened at $1.32 on Friday. The firm’s fifty day moving average price is $1.56 and its 200 day moving average price is $2.37. Otonomo Technologies has a 12-month low of $1.10 and a 12-month high of $10.05.

Several institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in shares of Otonomo Technologies during the first quarter worth about $47,000. Morgan Stanley bought a new position in shares of Otonomo Technologies during the first quarter worth about $289,000. Millennium Management LLC grew its position 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 worth $576,000 after acquiring an additional 34,684 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Otonomo Technologies during the first quarter worth about $674,000. Institutional investors and hedge funds own 51.43% of the company’s stock.

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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