Rekor Systems (NASDAQ:REKR) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Rekor Systems (NASDAQ:REKR) from a sell rating to a hold rating in a research note released on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Rekor Systems in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Rekor Systems Trading Down 5.8%

Shares of NASDAQ REKR opened at $0.77 on Friday. The company has a market cap of $105.46 million, a price-to-earnings ratio of -3.33 and a beta of 1.83. Rekor Systems has a 12-month low of $0.72 and a 12-month high of $3.42. The stock’s 50 day simple moving average is $0.86 and its 200 day simple moving average is $1.31.

Rekor Systems (NASDAQ:REKR) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $10.26 million during the quarter, compared to the consensus estimate of $12.32 million. Rekor Systems had a negative return on equity of 80.28% and a negative net margin of 60.48%. As a group, equities analysts forecast that Rekor Systems will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Rekor Systems

Hedge funds have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. bought a new stake in Rekor Systems during the 3rd quarter valued at $52,000. Bank of America Corp DE raised its stake 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 valued at $48,000 after acquiring an additional 25,723 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Rekor Systems by 845.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 33,263 shares of the company’s stock valued at $46,000 after acquiring an additional 29,745 shares in the last quarter. Creative Planning raised its stake in Rekor Systems by 233.7% during the 2nd quarter. Creative Planning now owns 40,035 shares of the company’s stock valued at $46,000 after acquiring an additional 28,037 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Rekor Systems by 74.6% during the 2nd quarter. NewEdge Advisors LLC now owns 32,055 shares of the company’s stock valued at $37,000 after acquiring an additional 13,700 shares in the last quarter. Institutional investors own 45.71% of the company’s stock.

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.