Rekor Systems (NASDAQ:REKR) Stock Falls 3.5% – Time to Sell?

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of 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, According to MarketBeat, the company presently has an average rating of “Sell”.

Rekor Systems Price Performance

The company has a market cap of $53.40 million, a P/E ratio of -2.42 and a beta of 1.79. The stock has a 50-day moving average of $0.56 and a 200 day moving average of $0.70.

Rekor Systems (NASDAQ:REKR) last issued its earnings results on Thursday, August 13th. The company reported ($0.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.03. Rekor Systems had a negative return on equity of 59.05% and a negative net margin of 43.84%.The firm had revenue of $12.66 million for the quarter, compared to the consensus estimate of $12.61 million. Sell-side analysts predict that Rekor Systems, Inc. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

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

Rekor Systems Company Profile

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.