Private Advisor Group LLC Decreases Stake in 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 cut its holdings in Rekor Systems, Inc. (NASDAQ:REKR - Free Report) by 92.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,930 shares of the company's stock after selling 1,323,740 shares during the quarter. Private Advisor Group LLC owned 0.10% of Rekor Systems worth $100,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of REKR. ProShare Advisors LLC boosted its position in Rekor Systems by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 20,752 shares of the company's stock worth $32,000 after purchasing an additional 6,829 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rekor Systems by 44.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,163 shares of the company's stock worth $52,000 after purchasing an additional 10,159 shares in the last quarter. Northern Trust Corp boosted its position in Rekor Systems by 2.1% during the fourth quarter. Northern Trust Corp now owns 599,376 shares of the company's stock worth $935,000 after purchasing an additional 12,100 shares in the last quarter. Barclays PLC boosted its position in Rekor Systems by 11.7% during the fourth quarter. Barclays PLC now owns 116,615 shares of the company's stock worth $182,000 after purchasing an additional 12,188 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Rekor Systems by 33.4% during the fourth quarter. Stifel Financial Corp now owns 107,557 shares of the company's stock worth $168,000 after purchasing an additional 26,920 shares in the last quarter. 45.71% of the stock is currently owned by hedge funds and other institutional investors.

Rekor Systems Stock Down 2.7%

REKR opened at $1.10 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 1.18. Rekor Systems, Inc. has a one year low of $0.62 and a one year high of $2.67. The business's fifty day moving average is $1.25 and its two-hundred day moving average is $1.26. The company has a market cap of $129.89 million, a price-to-earnings ratio of -1.90 and a beta of 2.26.

Rekor Systems (NASDAQ:REKR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.10) earnings per share (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 company had revenue of $9.20 million during the quarter, compared to analysts' expectations of $10.92 million. Analysts anticipate that Rekor Systems, Inc. will post -0.57 EPS for the current fiscal year.

Rekor Systems Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.