Short Interest in Rekor Systems, Inc. (NASDAQ:REKR) Grows By 32.9%

Rekor Systems, Inc. (NASDAQ:REKR - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 24,700,000 shares, an increase of 32.9% from the March 15th total of 18,590,000 shares. Based on an average daily volume of 6,900,000 shares, the days-to-cover ratio is presently 3.6 days. Approximately 28.7% of the company's shares are short sold.

Rekor Systems Trading Up 7.7 %

NASDAQ:REKR traded up $0.07 during midday trading on Thursday, hitting $0.93. The stock had a trading volume of 3,973,367 shares, compared to its average volume of 3,233,916. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $1.08 and a 200 day moving average of $1.24. The company has a market capitalization of $103.08 million, a price-to-earnings ratio of -1.43 and a beta of 2.07. Rekor Systems has a one year low of $0.62 and a one year high of $2.67.

Rekor Systems (NASDAQ:REKR - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.13). Rekor Systems had a negative net margin of 119.54% and a negative return on equity of 119.85%. The firm had revenue of $13.28 million for the quarter, compared to analysts' expectations of $12.91 million. As a group, sell-side analysts forecast that Rekor Systems will post -0.57 EPS for the current year.

Institutional Trading of Rekor Systems

A number of hedge funds have recently bought and sold shares of REKR. State Street Corp raised its position in shares of Rekor Systems by 14.7% in the 3rd quarter. State Street Corp now owns 1,514,044 shares of the company's stock worth $1,787,000 after acquiring an additional 194,323 shares in the last quarter. Barclays PLC raised its holdings in Rekor Systems by 332.0% in the third quarter. Barclays PLC now owns 104,427 shares of the company's stock worth $123,000 after purchasing an additional 80,255 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Rekor Systems by 5.5% during the third quarter. Geode Capital Management LLC now owns 1,813,380 shares of the company's stock valued at $2,140,000 after buying an additional 94,907 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Rekor Systems by 2.7% in the 4th quarter. SG Americas Securities LLC now owns 712,681 shares of the company's stock valued at $1,112,000 after buying an additional 18,740 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Rekor Systems in the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 45.71% of the company's stock.

Analyst Upgrades and Downgrades

Separately, William Blair restated an "outperform" rating on shares of Rekor Systems in a report on Tuesday, April 1st.

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.