Rekor Systems (NASDAQ:REKR) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Rekor Systems (NASDAQ:REKR) issued its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02, FiscalAI reports. Rekor Systems had a negative return on equity of 146.71% and a negative net margin of 115.76%.The company had revenue of $14.19 million for the quarter, compared to analysts’ expectations of $12.85 million.

Rekor Systems Stock Performance

REKR stock traded up $0.11 during midday trading on Friday, hitting $2.15. 6,274,522 shares of the company traded hands, compared to its average volume of 5,328,053. The company has a quick ratio of 1.10, a current ratio of 1.40 and a debt-to-equity ratio of 0.42. The business has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $1.47. The stock has a market capitalization of $270.98 million, a price-to-earnings ratio of -4.07 and a beta of 2.05. Rekor Systems has a twelve month low of $0.62 and a twelve month high of $3.42.

Hedge Funds Weigh In On Rekor Systems

A number of institutional investors and hedge funds have recently bought and sold shares of REKR. Vanguard Group Inc. grew its position in Rekor Systems by 17.9% in the third quarter. Vanguard Group Inc. now owns 5,335,233 shares of the company’s stock valued at $8,376,000 after acquiring an additional 809,252 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Rekor Systems by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,981,293 shares of the company’s stock worth $3,530,000 after purchasing an additional 686,094 shares during the last quarter. Caption Management LLC bought a new stake in shares of Rekor Systems in the 2nd quarter worth about $120,000. Engineers Gate Manager LP acquired a new stake in shares of Rekor Systems during the 2nd quarter worth about $113,000. Finally, Banco BTG Pactual S.A. acquired a new position in Rekor Systems in the third quarter valued at about $102,000. Institutional investors own 45.71% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rekor Systems in a research report on Wednesday, October 8th. 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, the stock presently has a consensus rating of “Hold”.

Rekor Systems Company Profile

Rekor Systems, Inc, a technology company, provides infrastructure solutions for transportation, public safety, and urban mobility markets in the United States and internationally. The company's platforms include Rekor One, an AI-powered roadway intelligence platform; Rekor Command, a comprehensive cross-agency platform that offers various applications for traffic management centers, freeway service patrol, first responders, and maintenance crews; Rekor Discover, a platform that ingests data from its hardware and automates comprehensive analytics and actionable insights about the movement of objects across the roadway; and Rekor Scout platform, which automates previously manual processes with collaborative solutions that keep all stakeholders apprised of developing situations and accelerate reaction times to incidents and offenders.