Rekor Systems (NASDAQ:REKR) Shares Down 6.6% – Should You Sell?

Rekor Systems, Inc. (NASDAQ:REKR) shares dropped 6.6% on Thursday . The stock traded as low as $1.08 and last traded at $1.13. Approximately 4,895,536 shares changed hands during mid-day trading, an increase of 114% from the average daily volume of 2,282,790 shares. The stock had previously closed at $1.21.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on REKR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rekor Systems in a research report on Thursday, January 22nd. Wall Street Zen raised Rekor Systems from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rekor Systems currently has a consensus rating of “Hold”.

Rekor Systems Trading Down 6.6%

The firm has a market cap of $143.16 million, a P/E ratio of -2.69 and a beta of 2.03. The business’s 50-day moving average is $1.60 and its two-hundred day moving average is $1.65. The company has a current ratio of 1.45, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41.

Rekor Systems (NASDAQ:REKR) last issued its earnings results on Thursday, November 13th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $14.19 million during the quarter, compared to the consensus estimate 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, analysts expect that Rekor Systems, Inc. will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rekor Systems

Several large investors have recently added to or reduced their stakes in REKR. XTX Topco Ltd boosted its holdings in shares of Rekor Systems by 17.4% during the third quarter. XTX Topco Ltd now owns 405,811 shares of the company’s stock valued at $637,000 after acquiring an additional 60,121 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Rekor Systems in the 3rd quarter valued at about $2,670,000. Millennium Management LLC boosted its stake in Rekor Systems by 20.7% during the 3rd quarter. Millennium Management LLC now owns 1,587,284 shares of the company’s stock valued at $2,492,000 after purchasing an additional 271,981 shares during the period. Centiva Capital LP acquired a new position in Rekor Systems during the 3rd quarter valued at about $34,000. Finally, Bank of America Corp DE grew its position in Rekor Systems by 513.9% in the 3rd quarter. Bank of America Corp DE now owns 30,728 shares of the company’s stock worth $48,000 after purchasing an additional 25,723 shares during the last quarter. 45.71% of the stock is owned by institutional investors and hedge funds.

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.