Rekor Systems (NASDAQ:REKR) Shares Down 3.5% - What's Next?

Key Points

• Rekor Systems shares fell 3.5% to $0.3899 in Monday midday trading, with volume 64% above average. The stock remains below its 50-day and 200-day moving averages.
• Analysts maintain a negative outlook: Rekor has an average “Sell” rating, while Weiss Ratings upgraded the stock only from “sell (e+)” to “sell (d-).”
• The company slightly exceeded quarterly expectations, reporting a loss of $0.00 per share versus the anticipated $0.03 loss and revenue of $12.66 million. However, it continues to have substantial negative margins and return on equity, while institutions and hedge funds own 45.71% of the shares.

Rekor Systems, Inc. (NASDAQ:REKR - Get Free Report) traded down 3.5% on Monday. The stock traded as low as $0.36 and last traded at $0.3899. Approximately 2,638,941 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 1,609,897 shares. The stock had previously closed at $0.4040.

Analyst Ratings Changes

Separately, Weiss Ratings raised Rekor Systems from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, September 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Rekor Systems has an average rating of "Sell".

Rekor Systems Stock Down 3.5%

The business's 50 day simple moving average is $0.56 and its 200 day simple moving average is $0.70. The stock has a market cap of $53.67 million, a price-to-earnings ratio of -2.44 and a beta of 1.79.

Rekor Systems (NASDAQ:REKR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.00) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.03. Rekor Systems had a negative net margin of 43.84% and a negative return on equity of 59.05%. The company had revenue of $12.66 million for the quarter, compared to analyst estimates of $12.61 million. Equities research analysts forecast that Rekor Systems, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REKR. Renaissance Technologies LLC lifted its holdings in Rekor Systems by 31.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,349,644 shares of the company's stock valued at $1,927,000 after purchasing an additional 558,544 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Rekor Systems in the second quarter valued at $1,198,000. OMERS ADMINISTRATION Corp raised its position in shares of 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 purchasing an additional 103,200 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Rekor Systems in the second quarter valued at about $60,000. Finally, Caitong International Asset Management Co. Ltd lifted 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 buying an additional 65,591 shares during the last quarter. 45.71% of the stock is owned by institutional investors and hedge funds.

Rekor Systems Company Profile

Rekor Systems, Inc develops artificial intelligence and machine-vision technologies for transportation, public safety and roadway intelligence applications. Its software analyzes data from cameras and other roadway sensors to identify vehicles, objects and events, helping agencies and organizations improve traffic management, public safety and transportation operations.

The company offers platforms and solutions that support automated license plate recognition, vehicle identification, roadway monitoring and transportation analytics.

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