Zacks Investment Research Downgrades Rekor Systems (NASDAQ:REKR) to Sell

Rekor Systems (NASDAQ:REKRGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Rekor Systems Inc. is the parent of Rekor Recognition Systems, Inc. It provides advanced vehicle recognition systems, powered by OpenALPR software, which improve the accuracy of license plate reads and also identify the make, model and color of vehicles. The company’s products used for law enforcement, security and surveillance, electronic toll collection, parking operations, banking and insurance, logistics, traffic management and customer loyalty. Rekor Systems Inc., formerly known as Novume Solutions Inc., is based in Chantilly, Virginia. “

Separately, Lake Street Capital lowered their price target on Rekor Systems from $11.00 to $6.00 in a report on Friday, April 1st.

Rekor Systems stock opened at $3.69 on Tuesday. The business’s fifty day simple moving average is $4.36 and its two-hundred day simple moving average is $6.77. Rekor Systems has a 12 month low of $3.37 and a 12 month high of $25.38.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D. Scott Neal Inc. bought a new position in Rekor Systems during the fourth quarter valued at approximately $10,552,000. Goldman Sachs Group Inc. lifted its stake in shares of Rekor Systems by 9.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,268,836 shares of the company’s stock valued at $14,861,000 after purchasing an additional 188,609 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Rekor Systems in the 4th quarter valued at approximately $1,205,000. State Street Corp lifted its stake in shares of Rekor Systems by 18.9% in the 4th quarter. State Street Corp now owns 1,146,851 shares of the company’s stock valued at $7,512,000 after purchasing an additional 182,589 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Rekor Systems by 939.8% in the 2nd quarter. Morgan Stanley now owns 112,704 shares of the company’s stock valued at $1,146,000 after purchasing an additional 101,865 shares during the last quarter. 51.98% of the stock is owned by hedge funds and other institutional investors.

About Rekor Systems (Get Rating)

Rekor Systems, Inc, through its subsidiaries, develops and implements transformative mission-critical intelligent infrastructure solutions and services for transportation management, public safety, and commercial markets in the United States, Canada, and internationally. It offers Rekor One Traffic Management solutions, including software modules for roadway monitoring and response, an incident detection and management solution; traffic and infrastructure analytics to capture data for roadway and infrastructure analytics and planning; and live and archival traffic view for situational awareness of what is happening on roadways.

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