Rekor Systems (NASDAQ:REKR) Trading 10.6% Higher - Here's What Happened

Shares of Rekor Systems, Inc. (NASDAQ:REKR - Get Free Report) shot up 10.6% on Friday . The stock traded as high as $0.92 and last traded at $0.91. 1,814,712 shares traded hands during trading, an increase of 57% from the average session volume of 1,159,030 shares. The stock had previously closed at $0.82.

Analysts Set New Price Targets

A number of analysts have weighed in on REKR shares. Wedbush reissued an "outperform" rating on shares of Rekor Systems in a report on Thursday, August 15th. William Blair reiterated an "outperform" rating on shares of Rekor Systems in a research note on Friday, November 15th.

Rekor Systems Trading Up 10.6 %

The business has a 50-day moving average of $1.06 and a 200-day moving average of $1.35. The stock has a market capitalization of $85.23 million, a price-to-earnings ratio of -1.40 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.63 and a current ratio of 0.76.

Institutional Investors Weigh In On Rekor Systems

Several large investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in Rekor Systems by 38.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,262 shares of the company's stock valued at $40,000 after purchasing an additional 9,494 shares during the last quarter. Lake Hills Wealth Management LLC increased its stake in Rekor Systems by 12.0% in the third quarter. Lake Hills Wealth Management LLC now owns 113,654 shares of the company's stock valued at $134,000 after purchasing an additional 12,166 shares during the period. SG Americas Securities LLC raised its holdings in shares of Rekor Systems by 3.2% in the third quarter. SG Americas Securities LLC now owns 693,941 shares of the company's stock valued at $819,000 after buying an additional 21,517 shares during the last quarter. LexAurum Advisors LLC acquired a new stake in shares of Rekor Systems during the third quarter worth about $39,000. Finally, Virtu Financial LLC purchased a new position in shares of Rekor Systems during the third quarter worth about $41,000. 45.71% of the stock is owned by institutional investors and hedge funds.

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.

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