Rekor Systems (NASDAQ:REKR) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Rekor Systems reported a quarterly loss of ($0.07) earnings per share, missing analyst expectations of ($0.06) per share.
• The company has a negative return on equity of 139.41% and a negative net margin of 118.09%.
• Goldman Sachs Group Inc. increased its ownership in Rekor Systems by 20.8%, now holding about 3.59% of the company's shares.

Rekor Systems (NASDAQ:REKR - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01), Zacks reports. Rekor Systems had a negative net margin of 115.76% and a negative return on equity of 146.71%. The company had revenue of $12.36 million for the quarter, compared to analyst estimates of $12.36 million.

Rekor Systems Price Performance

Shares of REKR stock traded down $0.03 during midday trading on Friday, reaching $1.08. 1,655,287 shares of the company traded hands, compared to its average volume of 2,446,377. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.40 and a quick ratio of 0.93. The firm's 50 day simple moving average is $1.21 and its two-hundred day simple moving average is $1.22. Rekor Systems has a 1-year low of $0.62 and a 1-year high of $2.67. The firm has a market cap of $136.44 million, a PE ratio of -2.04 and a beta of 2.26.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in Rekor Systems by 74.6% in the 2nd quarter. NewEdge Advisors LLC now owns 32,055 shares of the company's stock worth $37,000 after acquiring an additional 13,700 shares during the period. Creative Planning grew its stake in Rekor Systems by 233.7% in the 2nd quarter. Creative Planning now owns 40,035 shares of the company's stock worth $46,000 after acquiring an additional 28,037 shares during the period. Jump Financial LLC grew its stake in Rekor Systems by 199.4% in the 2nd quarter. Jump Financial LLC now owns 63,768 shares of the company's stock worth $74,000 after acquiring an additional 42,468 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Rekor Systems in the 2nd quarter worth approximately $52,000. Finally, Tower Research Capital LLC TRC grew its stake in Rekor Systems by 586.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 64,427 shares of the company's stock worth $75,000 after acquiring an additional 55,046 shares during the period. 45.71% of the stock is owned by hedge funds and other institutional investors.

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.