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

Rekor Systems, Inc. (NASDAQ:REKR) shares dropped 6.6% during trading on Thursday . The stock traded as low as $1.08 and last traded at $1.13. Approximately 4,895,536 shares traded 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 Ratings Changes

Several brokerages recently weighed in on REKR. Wall Street Zen upgraded shares of Rekor Systems from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rekor Systems in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rekor Systems has a consensus rating of “Hold”.

Rekor Systems Stock Performance

The firm’s 50 day moving average price is $1.58 and its two-hundred day moving average price is $1.65. The firm has a market cap of $140.63 million, a PE ratio of -2.64 and a beta of 2.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.45.

Rekor Systems (NASDAQ:REKR) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Rekor Systems had a negative return on equity of 126.37% and a negative net margin of 89.82%.The firm had revenue of $14.19 million during the quarter, compared to the consensus estimate of $12.85 million. On average, research analysts forecast that Rekor Systems, Inc. will post -0.57 earnings per share for the current year.

Institutional Trading of Rekor Systems

A number of institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Rekor Systems during the third quarter worth about $2,670,000. Vanguard Group Inc. grew its position in Rekor Systems by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,335,233 shares of the company’s stock valued at $8,376,000 after buying an additional 809,252 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Rekor Systems by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,981,293 shares of the company’s stock worth $3,530,000 after acquiring an additional 686,094 shares during the period. XTX Topco Ltd lifted its holdings in Rekor Systems by 611.9% in the second quarter. XTX Topco Ltd now owns 345,690 shares of the company’s stock valued at $401,000 after acquiring an additional 297,131 shares during the period. Finally, Millennium Management LLC raised its holdings in Rekor Systems by 20.7% during the third quarter. Millennium Management LLC now owns 1,587,284 shares of the company’s stock worth $2,492,000 after purchasing an additional 271,981 shares during the last quarter. 45.71% of the stock is owned by hedge funds and other institutional investors.

Rekor Systems Company Profile

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.