Rekor Systems, Inc. (NASDAQ:REKR) Short Interest Up 32.9% in March

by · The Cerbat Gem

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

Hedge Funds Weigh In On Rekor Systems

Large investors have recently modified their holdings of the business. ProShare Advisors LLC lifted its position in Rekor Systems by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 20,752 shares of the company’s stock valued at $32,000 after buying an additional 6,829 shares during the last quarter. PEAK6 LLC purchased a new stake in shares of Rekor Systems in the 4th quarter valued at approximately $45,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rekor Systems by 44.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,163 shares of the company’s stock worth $52,000 after acquiring an additional 10,159 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Rekor Systems by 38.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,262 shares of the company’s stock worth $40,000 after purchasing an additional 9,494 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Rekor Systems in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 45.71% of the company’s stock.

Rekor Systems Price Performance

Rekor Systems stock opened at $0.84 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $1.15 and a 200 day moving average price of $1.25. Rekor Systems has a 12-month low of $0.62 and a 12-month high of $2.67. The stock has a market cap of $92.83 million, a P/E ratio of -1.29 and a beta of 2.07.

Rekor Systems (NASDAQ:REKR – Get Free Report) 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). Rekor Systems had a negative return on equity of 119.85% and a negative net margin of 119.54%. The firm had revenue of $13.28 million for the quarter, compared to analyst estimates of $12.91 million. Sell-side analysts anticipate that Rekor Systems will post -0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

View Our Latest Research Report on Rekor Systems

Rekor Systems Company Profile

(Get Free Report)

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.

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