Rekor Systems (NASDAQ:REKR) Stock Price Down 1.5% - Should You Sell?

Key Points

• Rekor Systems shares fell 1.5% in midday trading, with the stock last trading near $0.62 on volume above its daily average.
• Analyst sentiment remains weak, with the stock carrying an average Wall Street rating of “Sell” even after a recent upgrade by Wall Street Zen from sell to hold.
• Recent financial results were disappointing: Rekor missed earnings and revenue expectations in its latest quarter, while analysts expect the company to remain unprofitable this fiscal year.

Rekor Systems, Inc. (NASDAQ:REKR - Get Free Report)'s share price was down 1.5% during mid-day trading on Tuesday . The company traded as low as $0.6051 and last traded at $0.6237. Approximately 2,788,460 shares were traded during mid-day trading, an increase of 28% from the average session volume of 2,175,442 shares. The stock had previously closed at $0.6330.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on REKR shares. Wall Street Zen raised shares of Rekor Systems from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Rekor Systems from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of "Sell".

Rekor Systems Stock Down 1.5%

The company has a market capitalization of $85.83 million, a PE ratio of -2.71 and a beta of 1.83. The business has a 50 day simple moving average of $0.74 and a 200 day simple moving average of $0.93.

Rekor Systems (NASDAQ:REKR - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). Rekor Systems had a negative return on equity of 80.28% and a negative net margin of 60.48%.The business had revenue of $10.26 million for the quarter, compared to analysts' expectations of $12.32 million. Equities analysts expect that Rekor Systems, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Rekor Systems during the fourth quarter worth $2,934,000. International Assets Investment Management LLC acquired a new position in shares of Rekor Systems in the 4th quarter valued at $35,000. Daiwa Securities Group Inc. acquired a new position in shares of Rekor Systems in the 2nd quarter valued at $52,000. Jefferies Financial Group Inc. purchased a new position in Rekor Systems in the 3rd quarter worth $52,000. Finally, Bank of America Corp DE lifted its position in Rekor Systems by 513.9% during the 3rd quarter. Bank of America Corp DE now owns 30,728 shares of the company's stock worth $48,000 after acquiring an additional 25,723 shares during the period. Institutional investors and hedge funds own 45.71% of the company's stock.

Rekor Systems Company Profile

Rekor Systems, Inc is a U.S.-based technology company specializing in real-time vehicle recognition solutions powered by artificial intelligence and machine learning. The company develops software and hardware systems that capture, analyze and store vehicle data—such as license plate images, make and model, color and vehicle characteristics—by leveraging advanced computer vision algorithms. Rekor's platforms enable public safety agencies, transportation departments and private enterprises to automate vehicle identification, enhance situational awareness and improve operational efficiency.

The company's flagship offering is a suite of intelligent camera and analytics products that include built-in license plate recognition (LPR) and vehicle attribute classification.

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