UBS Group AG Lowers Holdings in Rekor Systems, Inc. $REKR

UBS Group AG trimmed its holdings in Rekor Systems, Inc. (NASDAQ:REKR) by 30.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,496,452 shares of the company’s stock after selling 657,612 shares during the period. UBS Group AG’s holdings in Rekor Systems were worth $2,065,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in REKR. Mercer Global Advisors Inc. ADV purchased a new position in Rekor Systems in the third quarter worth approximately $2,670,000. Vanguard Group Inc. boosted its stake in Rekor Systems by 17.9% during the third quarter. Vanguard Group Inc. now owns 5,335,233 shares of the company’s stock worth $8,376,000 after buying an additional 809,252 shares during the period. Goldman Sachs Group Inc. boosted its stake in Rekor Systems by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,981,293 shares of the company’s stock worth $3,530,000 after buying an additional 686,094 shares during the period. Millennium Management LLC boosted its stake in Rekor Systems by 20.7% during the third quarter. Millennium Management LLC now owns 1,587,284 shares of the company’s stock worth $2,492,000 after buying an additional 271,981 shares during the period. Finally, Fiscal Wisdom Wealth Management LLC purchased a new position in Rekor Systems during the third quarter worth about $218,000. 45.71% of the stock is currently owned by hedge funds and other institutional investors.

Rekor Systems Price Performance

Shares of REKR stock opened at $0.77 on Friday. The firm has a market cap of $105.84 million, a PE ratio of -3.34 and a beta of 1.83. The company has a 50-day moving average of $0.82 and a two-hundred day moving average of $1.19. Rekor Systems, Inc. has a 1-year low of $0.71 and a 1-year high of $3.42.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Rekor Systems from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rekor Systems in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Rekor Systems Profile

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.