Q3 2023 EPS Estimates for Rekor Systems, Inc. Boosted by Analyst (NASDAQ:REKR)

Rekor Systems, Inc. (NASDAQ:REKR) – Equities researchers at B. Riley lifted their Q3 2023 earnings per share (EPS) estimates for shares of Rekor Systems in a research note issued on Tuesday, November 7th. B. Riley analyst Z. Cummins now anticipates that the company will post earnings per share of ($0.16) for the quarter, up from their previous forecast of ($0.17). B. Riley currently has a “Buy” rating and a $4.00 target price on the stock. The consensus estimate for Rekor Systems’ current full-year earnings is ($0.65) per share. B. Riley also issued estimates for Rekor Systems’ Q4 2023 earnings at ($0.12) EPS and FY2024 earnings at ($0.28) EPS.

Rekor Systems (NASDAQ:REKR) last released its earnings results on Monday, August 14th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $8.56 million during the quarter, compared to analyst estimates of $8.03 million. Rekor Systems had a negative net margin of 282.34% and a negative return on equity of 159.54%.

Separately, Northland Securities increased their target price on shares of Rekor Systems from $2.50 to $3.75 in a report on Tuesday, July 18th.

Rekor Systems Stock Performance

REKR stock opened at $2.68 on Thursday. Rekor Systems has a 52 week low of $0.56 and a 52 week high of $4.15. The company’s 50-day moving average price is $3.03 and its 200 day moving average price is $2.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.70.

Institutional Investors Weigh In On Rekor Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of Rekor Systems in the third quarter worth $26,000. Charles Schwab Investment Management Inc. acquired a new position in Rekor Systems in the 1st quarter valued at about $28,000. SlateStone Wealth LLC purchased a new position in Rekor Systems in the 2nd quarter valued at about $32,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Rekor Systems during the 3rd quarter worth about $32,000. Finally, Eudaimonia Partners LLC purchased a new stake in shares of Rekor Systems during the third quarter worth about $33,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Insiders Place Their Bets

In other Rekor Systems news, CEO Robert Alan Berman acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were purchased at an average cost of $3.45 per share, with a total value of $34,500.00. Following the purchase, the chief executive officer now owns 1,135,219 shares in the company, valued at $3,916,505.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.40% of the stock is owned by company insiders.

Rekor Systems Company Profile

Rekor Systems, Inc, a technology company, provides intelligent infrastructure solutions for transportation management, public safety, and urban mobility markets in the United States, Canada, and internationally. It leverages AI, machine learning, and holistic data to support the intelligent infrastructure for smart mobility.