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

Rekor Systems, Inc. (NASDAQ:REKR - Get Free Report) was the recipient of 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. Approximately 28.7% of the shares of the company are short sold. Based on an average daily volume of 6,900,000 shares, the days-to-cover ratio is presently 3.6 days.

Institutional Investors Weigh In On Rekor Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. purchased a new stake in Rekor Systems in the 4th quarter worth $5,340,000. Geode Capital Management LLC increased its holdings in Rekor Systems by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 1,942,624 shares of the company's stock worth $3,031,000 after acquiring an additional 129,244 shares in the last quarter. State Street Corp increased its holdings in Rekor Systems by 14.7% in the 3rd quarter. State Street Corp now owns 1,514,044 shares of the company's stock worth $1,787,000 after acquiring an additional 194,323 shares in the last quarter. SG Americas Securities LLC increased its holdings in Rekor Systems by 2.7% in the 4th quarter. SG Americas Securities LLC now owns 712,681 shares of the company's stock worth $1,112,000 after acquiring an additional 18,740 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Rekor Systems by 2.1% in the 4th quarter. Northern Trust Corp now owns 599,376 shares of the company's stock worth $935,000 after acquiring an additional 12,100 shares in the last quarter. Hedge funds and other institutional investors own 45.71% of the company's stock.

Rekor Systems Stock Performance

REKR traded up $0.04 during trading on Wednesday, reaching $0.86. 279,823 shares of the company's stock were exchanged, compared to its average volume of 3,197,023. Rekor Systems has a 1 year low of $0.62 and a 1 year high of $2.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.76 and a quick ratio of 0.63. The stock has a market capitalization of $95.93 million, a P/E ratio of -1.33 and a beta of 2.07. The company's fifty day simple moving average is $1.10 and its 200-day simple moving average is $1.25.

Rekor Systems (NASDAQ:REKR - Get Free Report) last posted its earnings results on Monday, March 31st. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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 net margin of 119.54% and a negative return on equity of 119.85%. As a group, research analysts predict that Rekor Systems will post -0.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.