Private Advisor Group LLC Sells 1,323,740 Shares of Rekor Systems, Inc. (NASDAQ:REKR)

Key Points

• Private Advisor Group LLC has significantly reduced its holdings in Rekor Systems, Inc. by 92.1%, now owning only 0.10% of the company with 112,930 shares valued at $100,000.
• Other institutional investors, including ProShare Advisors and Price T Rowe Associates, have increased their stakes in Rekor Systems, with some reporting significant percentage boosts in their holdings during the fourth quarter.
• Rekor Systems reported a loss of ($0.10) EPS in its latest quarterly earnings, falling short of analysts' expectations and marking a negative net margin of 118.09% for the quarter.

Private Advisor Group LLC reduced its stake in Rekor Systems, Inc. (NASDAQ:REKR - Free Report) by 92.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 112,930 shares of the company's stock after selling 1,323,740 shares during the quarter. Private Advisor Group LLC owned approximately 0.10% of Rekor Systems worth $100,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in REKR. LPL Financial LLC lifted its position in Rekor Systems by 1,666.6% in the fourth quarter. LPL Financial LLC now owns 204,133 shares of the company's stock valued at $318,000 after purchasing an additional 192,578 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Rekor Systems in the fourth quarter worth $67,000. Geode Capital Management LLC grew its stake in shares of Rekor Systems by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 1,942,624 shares of the company's stock worth $3,031,000 after acquiring an additional 129,244 shares during the last quarter. Barclays PLC grew its stake in shares of Rekor Systems by 11.7% in the fourth quarter. Barclays PLC now owns 116,615 shares of the company's stock worth $182,000 after acquiring an additional 12,188 shares during the last quarter. Finally, PEAK6 LLC purchased a new stake in shares of Rekor Systems in the fourth quarter worth $45,000. 45.71% of the stock is owned by hedge funds and other institutional investors.

Rekor Systems Stock Down 1.4%

Shares of NASDAQ REKR traded down $0.02 during trading on Wednesday, reaching $1.09. The company had a trading volume of 777,387 shares, compared to its average volume of 5,409,546. Rekor Systems, Inc. has a 12-month low of $0.62 and a 12-month high of $2.67. The stock has a market cap of $128.12 million, a PE ratio of -1.87 and a beta of 2.26. The business's 50-day moving average is $1.25 and its 200 day moving average is $1.25. The company has a quick ratio of 0.93, a current ratio of 1.18 and a debt-to-equity ratio of 0.44.

Rekor Systems (NASDAQ:REKR - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Rekor Systems had a negative net margin of 118.09% and a negative return on equity of 139.41%. The business had revenue of $9.20 million for the quarter, compared to analysts' expectations of $10.92 million. As a group, equities analysts forecast that Rekor Systems, Inc. will post -0.57 earnings per share for the current fiscal year.

About Rekor Systems

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.