Rekor Systems (NASDAQ:REKR) Shares Down 1.5% – Here’s What Happened

Rekor Systems, Inc. (NASDAQ:REKR)’s stock price was down 1.5% during mid-day trading on Tuesday . The stock traded as low as $0.6051 and last traded at $0.6237. Approximately 2,788,460 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 2,175,442 shares. The stock had previously closed at $0.6330.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on REKR. Wall Street Zen upgraded Rekor Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Rekor Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Rekor Systems has an average rating of “Sell”.

Rekor Systems Price Performance

The firm’s fifty day simple moving average is $0.74 and its 200 day simple moving average is $0.93. The company has a market capitalization of $85.83 million, a PE ratio of -2.71 and a beta of 1.83.

Rekor Systems (NASDAQ:REKR) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The company had revenue of $10.26 million for the quarter, compared to analysts’ expectations of $12.32 million. Rekor Systems had a negative net margin of 60.48% and a negative return on equity of 80.28%. On average, equities research analysts anticipate that Rekor Systems, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of REKR. OMERS ADMINISTRATION Corp lifted its holdings in Rekor Systems by 65.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 261,800 shares of the company’s stock valued at $215,000 after acquiring an additional 103,200 shares during the period. Renaissance Technologies LLC boosted its position in Rekor Systems by 31.2% in the 1st quarter. Renaissance Technologies LLC now owns 2,349,644 shares of the company’s stock worth $1,927,000 after purchasing an additional 558,544 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Rekor Systems by 1,864.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 69,109 shares of the company’s stock worth $95,000 after purchasing an additional 65,591 shares during the period. Virtu Financial LLC acquired a new stake in shares of Rekor Systems during the 4th quarter worth approximately $161,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Rekor Systems by 100.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,401,350 shares of the company’s stock worth $4,745,000 after purchasing an additional 1,700,650 shares during the period. 45.71% of the stock is currently 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.