Prescott Group Capital Management L.L.C. Makes New Investment in Rekor Systems, Inc. $REKR

Prescott Group Capital Management L.L.C. bought a new position in shares of Rekor Systems, Inc. (NASDAQ:REKR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,125,777 shares of the company’s stock, valued at approximately $2,934,000. Prescott Group Capital Management L.L.C. owned approximately 1.68% of Rekor Systems as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new stake in Rekor Systems during the 3rd quarter worth approximately $34,000. International Assets Investment Management LLC acquired a new stake in shares of Rekor Systems in the 4th quarter valued at $35,000. NewEdge Advisors LLC raised its holdings in shares of Rekor Systems by 74.6% in the 2nd quarter. NewEdge Advisors LLC now owns 32,055 shares of the company’s stock valued at $37,000 after purchasing an additional 13,700 shares in the last quarter. Creative Planning raised its holdings in shares of Rekor Systems by 233.7% in the 2nd quarter. Creative Planning now owns 40,035 shares of the company’s stock valued at $46,000 after purchasing an additional 28,037 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Rekor Systems by 513.9% in the 3rd quarter. Bank of America Corp DE now owns 30,728 shares of the company’s stock valued at $48,000 after purchasing an additional 25,723 shares in the last quarter. 45.71% of the stock is currently owned by institutional investors and hedge funds.

Rekor Systems Price Performance

Shares of NASDAQ:REKR opened at $0.74 on Thursday. The company’s fifty day moving average price is $0.85 and its 200 day moving average price is $1.26. Rekor Systems, Inc. has a 12 month low of $0.71 and a 12 month high of $3.42. The firm has a market capitalization of $101.79 million, a P/E ratio of -3.22 and a beta of 1.83.

Rekor Systems (NASDAQ:REKR) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Rekor Systems had a negative return on equity of 80.28% and a negative net margin of 60.48%.The company had revenue of $10.26 million for the quarter, compared to analyst estimates of $12.32 million. On average, sell-side analysts anticipate that Rekor Systems, Inc. will post -0.1 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on REKR. Weiss Ratings restated a “sell (d-)” rating on shares of Rekor Systems in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Rekor Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Rekor Systems 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.