Rekor Systems (NASDAQ:REKR) Stock Price Down 4.5% – What’s Next?

Shares of Rekor Systems, Inc. (NASDAQ:REKR) fell 4.5% during mid-day trading on Monday . The stock traded as low as $1.48 and last traded at $1.49. 3,835,092 shares were traded during trading, an increase of 52% from the average session volume of 2,524,960 shares. The stock had previously closed at $1.56.

Analysts Set New Price Targets

Several brokerages have recently weighed in on REKR. Wall Street Zen upgraded Rekor Systems from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rekor Systems in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Rekor Systems Stock Down 4.5%

The business has a 50-day moving average price of $2.01 and a 200-day moving average price of $1.61. The company has a market capitalization of $188.77 million, a price-to-earnings ratio of -3.55 and a beta of 2.15. The company has a quick ratio of 1.20, a current ratio of 1.45 and a debt-to-equity ratio of 0.41.

Rekor Systems (NASDAQ:REKR) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $14.19 million during the quarter, compared to analyst estimates of $12.85 million. Rekor Systems had a negative return on equity of 126.37% and a negative net margin of 89.82%. As a group, equities analysts anticipate that Rekor Systems, Inc. will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rekor Systems

Several hedge funds have recently bought and sold shares of REKR. International Assets Investment Management LLC purchased a new stake in Rekor Systems in the 2nd quarter worth approximately $31,000. Y Intercept Hong Kong Ltd acquired a new position in Rekor Systems during the 2nd quarter worth $33,000. Centiva Capital LP bought a new stake in Rekor Systems during the 3rd quarter valued at approximately $34,000. NewEdge Advisors LLC grew its stake in shares of Rekor Systems by 74.6% in the second quarter. NewEdge Advisors LLC now owns 32,055 shares of the company’s stock worth $37,000 after acquiring an additional 13,700 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Rekor Systems in the 2nd quarter worth $40,000. 45.71% of the stock is owned by hedge funds and other institutional investors.

About Rekor Systems

Rekor Systems, Inc is a U.S.-based technology company specializing in real-time vehicle recognition solutions powered by artificial intelligence and machine learning. The company develops software and hardware systems that capture, analyze and store vehicle data—such as license plate images, make and model, color and vehicle characteristics—by leveraging advanced computer vision algorithms. Rekor’s platforms enable public safety agencies, transportation departments and private enterprises to automate vehicle identification, enhance situational awareness and improve operational efficiency.

The company’s flagship offering is a suite of intelligent camera and analytics products that include built-in license plate recognition (LPR) and vehicle attribute classification.