Rekor Systems (NASDAQ:REKR) Stock Falls 3.5% – What’s Next?

Shares of Rekor Systems, Inc. (NASDAQ:REKR) were down 3.5% during mid-day trading on Monday. The stock traded as low as $0.36 and last traded at $0.3899. 2,638,941 shares were traded during trading, an increase of 64% from the average session volume of 1,609,897 shares. The stock had previously closed at $0.4040.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Rekor Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Rekor Systems presently has an average rating of “Sell”.

Rekor Systems Price Performance

The stock’s 50-day moving average price is $0.56 and its 200-day moving average price is $0.70. The company has a market cap of $53.67 million, a P/E ratio of -2.44 and a beta of 1.79.

Rekor Systems (NASDAQ:REKR) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.00) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.03. Rekor Systems had a negative net margin of 43.84% and a negative return on equity of 59.05%. The business had revenue of $12.66 million for the quarter, compared to analyst estimates of $12.61 million. As a group, analysts expect that Rekor Systems, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP bought a new stake in shares of Rekor Systems in the second quarter valued at approximately $31,000. Sanctuary Advisors LLC acquired a new stake in Rekor Systems during the second quarter worth approximately $60,000. BlackRock Inc. acquired a new stake in Rekor Systems during the second quarter worth approximately $1,198,000. OMERS ADMINISTRATION Corp increased its stake in Rekor Systems by 65.1% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 261,800 shares of the company’s stock worth $215,000 after acquiring an additional 103,200 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Rekor Systems by 31.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,349,644 shares of the company’s stock worth $1,927,000 after acquiring an additional 558,544 shares during the period. Institutional investors and hedge funds own 45.71% of the company’s stock.

About Rekor Systems

Rekor Systems, Inc develops artificial intelligence and machine-vision technologies for transportation, public safety and roadway intelligence applications. Its software analyzes data from cameras and other roadway sensors to identify vehicles, objects and events, helping agencies and organizations improve traffic management, public safety and transportation operations.

The company offers platforms and solutions that support automated license plate recognition, vehicle identification, roadway monitoring and transportation analytics.