Short Interest in Rekor Systems, Inc. (NASDAQ:REKR) Expands By 32.9%

Rekor Systems, Inc. (NASDAQ:REKR) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 24,700,000 shares, a growth of 32.9% from the March 15th total of 18,590,000 shares. Based on an average daily volume of 6,900,000 shares, the short-interest ratio is currently 3.6 days. Currently, 28.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, William Blair reaffirmed an “outperform” rating on shares of Rekor Systems in a research report on Tuesday, April 1st.

Rekor Systems Trading Up 10.1 %

Shares of NASDAQ:REKR opened at $0.84 on Friday. The company has a market capitalization of $92.83 million, a PE ratio of -1.29 and a beta of 2.07. Rekor Systems has a 12-month low of $0.62 and a 12-month high of $2.67. The business has a 50 day moving average of $1.15 and a two-hundred day moving average of $1.25. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 0.37.

Rekor Systems (NASDAQ:REKR) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13). The firm had revenue of $13.28 million for the quarter, compared to analysts’ expectations of $12.91 million. Rekor Systems had a negative return on equity of 119.85% and a negative net margin of 119.54%. As a group, analysts forecast that Rekor Systems will post -0.57 EPS for the current year.

Hedge Funds Weigh In On Rekor Systems

Hedge funds have recently bought and sold shares of the business. Lake Hills Wealth Management LLC raised its stake in shares of Rekor Systems by 35.8% during the 1st quarter. Lake Hills Wealth Management LLC now owns 185,612 shares of the company’s stock worth $165,000 after buying an additional 48,945 shares during the period. ProShare Advisors LLC raised its position in Rekor Systems by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 20,752 shares of the company’s stock worth $32,000 after acquiring an additional 6,829 shares during the period. Millennium Management LLC lifted its holdings in Rekor Systems by 61.1% during the fourth quarter. Millennium Management LLC now owns 368,915 shares of the company’s stock valued at $576,000 after purchasing an additional 139,902 shares in the last quarter. Deutsche Bank AG grew its position in shares of Rekor Systems by 349.8% in the fourth quarter. Deutsche Bank AG now owns 227,639 shares of the company’s stock valued at $355,000 after purchasing an additional 177,026 shares during the period. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of Rekor Systems during the 4th quarter worth about $5,340,000. Hedge funds and other institutional investors own 45.71% of the company’s stock.

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.