Rekor Systems (NASDAQ:REKR) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Rekor Systems has received a "sell (D-)" rating from Weiss Ratings, indicating a negative outlook on its stock performance.
• The company's stock price declined by 5.7%, with current trading at $1.99, significantly down from its 52-week high of $2.67.
• Rekor Systems reported a loss of $0.07 earnings per share in its latest quarter, missing expectations, and showing a negative net margin of 115.76%.

Rekor Systems (NASDAQ:REKR - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Rekor Systems Stock Down 5.7%

Shares of NASDAQ REKR opened at $1.99 on Wednesday. The company's 50-day simple moving average is $1.33 and its 200-day simple moving average is $1.17. Rekor Systems has a 52-week low of $0.62 and a 52-week high of $2.67. The firm has a market cap of $251.40 million, a price-to-earnings ratio of -3.75 and a beta of 2.08. The company has a quick ratio of 1.10, a current ratio of 1.40 and a debt-to-equity ratio of 0.42.

Rekor Systems (NASDAQ:REKR - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). 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 during the quarter, compared to analyst estimates of $12.36 million. Equities analysts predict that Rekor Systems will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Rekor Systems

Several hedge funds and other institutional investors have recently modified their holdings of REKR. Goldman Sachs Group Inc. lifted its stake in shares of Rekor Systems by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,981,293 shares of the company's stock worth $3,530,000 after buying an additional 686,094 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of Rekor Systems by 611.9% in the second quarter. XTX Topco Ltd now owns 345,690 shares of the company's stock worth $401,000 after buying an additional 297,131 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Rekor Systems in the first quarter worth about $152,000. Caption Management LLC purchased a new position in shares of Rekor Systems in the second quarter worth about $120,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Rekor Systems in the second quarter worth about $113,000. 45.71% of the stock is owned by hedge funds and other institutional investors.

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.

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