Rekor Systems (NASDAQ:REKR) Stock Price Down 6.6% – Here’s What Happened

Rekor Systems, Inc. (NASDAQ:REKR) was down 6.6% during mid-day 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 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 research firms recently commented on REKR. Weiss Ratings restated 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 equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Rekor Systems Trading Down 6.6%

The company has a current ratio of 1.45, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $1.60 and a 200-day moving average price of $1.65. The company has a market capitalization of $143.16 million, a price-to-earnings ratio of -2.69 and a beta of 2.03.

Rekor Systems (NASDAQ:REKR) last announced its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $14.19 million during the quarter, compared to analysts’ expectations of $12.85 million. As a group, sell-side analysts predict that Rekor Systems, Inc. will post -0.57 EPS for the current year.

Institutional Trading of Rekor Systems

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of Rekor Systems in the second quarter valued at $31,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Rekor Systems in the 2nd quarter worth $33,000. Centiva Capital LP acquired a new stake in shares of Rekor Systems during the third quarter worth $34,000. NewEdge Advisors LLC lifted its holdings in shares of Rekor Systems by 74.6% during the second 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 during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new position in shares of Rekor Systems in the 2nd quarter valued at $40,000. 45.71% of the stock is currently owned by 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.