Rekor Systems (NASDAQ:REKR) Issues Quarterly Earnings Results

Rekor Systems (NASDAQ:REKR) posted its quarterly earnings data on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02), FiscalAI reports. The company had revenue of $10.26 million for the quarter, compared to analysts’ expectations of $11.16 million. Rekor Systems had a negative net margin of 64.93% and a negative return on equity of 84.96%.

Rekor Systems Trading Down 0.0%

Rekor Systems stock traded down $0.00 during midday trading on Monday, hitting $0.87. 3,757,618 shares of the stock were exchanged, compared to its average volume of 2,992,409. Rekor Systems has a fifty-two week low of $0.72 and a fifty-two week high of $3.42. The stock has a market capitalization of $119.22 million, a price-to-earnings ratio of -3.36 and a beta of 1.83. The stock’s 50-day simple moving average is $0.86 and its 200 day simple moving average is $1.38.

Analyst Ratings Changes

A number of equities research analysts have recently commented on REKR shares. Wall Street Zen cut shares of Rekor Systems from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rekor Systems in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Rekor Systems

Several hedge funds and other institutional investors have recently bought and sold shares of REKR. Centiva Capital LP acquired a new stake in Rekor Systems during the third quarter worth about $34,000. NewEdge Advisors LLC increased its position in Rekor Systems by 74.6% during the second quarter. NewEdge Advisors LLC now owns 32,055 shares of the company’s stock worth $37,000 after purchasing an additional 13,700 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Rekor Systems by 845.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 33,263 shares of the company’s stock worth $46,000 after purchasing an additional 29,745 shares during the last quarter. Creative Planning increased its position in Rekor Systems by 233.7% during the second quarter. Creative Planning now owns 40,035 shares of the company’s stock worth $46,000 after purchasing an additional 28,037 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Rekor Systems by 513.9% during the third quarter. Bank of America Corp DE now owns 30,728 shares of the company’s stock worth $48,000 after purchasing an additional 25,723 shares during the last quarter. 45.71% of the stock is currently owned by institutional investors and hedge funds.

About Rekor Systems

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.