Rekor Systems, Inc. (NASDAQ:REKR) Short Interest Down 19.4% in April

Rekor Systems, Inc. (NASDAQ:REKR) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 10,240,000 shares, a decline of 19.4% from the March 31st total of 12,700,000 shares. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is presently 8.4 days.

Rekor Systems Stock Performance

Shares of NASDAQ REKR traded up $0.04 during midday trading on Monday, reaching $1.84. The company’s stock had a trading volume of 456,944 shares, compared to its average volume of 1,153,496. The firm has a 50 day moving average price of $2.14 and a 200-day moving average price of $2.68. The stock has a market capitalization of $156.57 million, a P/E ratio of -2.51 and a beta of 2.12. Rekor Systems has a 12-month low of $1.06 and a 12-month high of $4.15. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.47 and a quick ratio of 1.29.

Rekor Systems (NASDAQ:REKR) last released its earnings results on Monday, March 25th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $11.07 million for the quarter, compared to the consensus estimate of $10.72 million. Rekor Systems had a negative return on equity of 106.96% and a negative net margin of 130.78%. As a group, equities analysts predict that Rekor Systems will post -0.28 earnings per share for the current year.

Institutional Trading of Rekor Systems

Several hedge funds have recently added to or reduced their stakes in REKR. Cannon Global Investment Management LLC purchased a new stake in Rekor Systems in the first quarter worth $94,000. International Assets Investment Management LLC grew its stake in shares of Rekor Systems by 257.1% during the 1st quarter. International Assets Investment Management LLC now owns 36,250 shares of the company’s stock worth $82,000 after acquiring an additional 26,100 shares during the period. Lake Hills Wealth Management LLC increased its holdings in Rekor Systems by 97.4% in the 1st quarter. Lake Hills Wealth Management LLC now owns 22,541 shares of the company’s stock worth $52,000 after acquiring an additional 11,121 shares during the last quarter. Sierra Summit Advisors LLC bought a new stake in Rekor Systems in the 4th quarter valued at about $312,000. Finally, Cantor Fitzgerald L. P. lifted its holdings in Rekor Systems by 10.0% during the fourth quarter. Cantor Fitzgerald L. P. now owns 3,507,335 shares of the company’s stock valued at $11,679,000 after purchasing an additional 320,265 shares during the last quarter. Institutional investors own 45.71% of the company’s stock.

Analysts Set New Price Targets

Separately, William Blair reiterated an “outperform” rating on shares of Rekor Systems in a report on Tuesday, March 26th.

About Rekor Systems

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.