Arctis Global Llc Buys 2,275,000 Shares of Rekor Systems, Inc. (NASDAQ:REKR) Stock

Rekor Systems, Inc. (NASDAQ:REKR) major shareholder Arctis Global Llc bought 2,275,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were bought at an average price of $1.40 per share, with a total value of $3,185,000.00. Following the completion of the purchase, the insider now owns 12,312,491 shares in the company, valued at approximately $17,237,487.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Rekor Systems Trading Down 1.6 %

Shares of NASDAQ:REKR opened at $1.79 on Wednesday. Rekor Systems, Inc. has a 12-month low of $1.28 and a 12-month high of $4.15. The company has a market cap of $152.79 million, a PE ratio of -2.45 and a beta of 2.03. The stock has a 50 day moving average of $1.62 and a 200 day moving average of $2.26. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28.

Rekor Systems (NASDAQ:REKR) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.12). Rekor Systems had a negative net margin of 133.98% and a negative return on equity of 118.77%. The business had revenue of $9.78 million for the quarter, compared to the consensus estimate of $13.03 million. As a group, equities research analysts expect that Rekor Systems, Inc. will post -0.53 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Rekor Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Lake Hills Wealth Management LLC purchased a new position in Rekor Systems during the fourth quarter valued at $38,000. Grimes & Company Inc. boosted its holdings in shares of Rekor Systems by 65.0% during the 4th quarter. Grimes & Company Inc. now owns 16,500 shares of the company’s stock valued at $55,000 after purchasing an additional 6,500 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Rekor Systems by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 20,000 shares of the company’s stock valued at $66,000 after purchasing an additional 10,000 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Rekor Systems in the fourth quarter worth about $73,000. Finally, Red Door Wealth Management LLC increased its holdings in shares of Rekor Systems by 50.0% in the fourth quarter. Red Door Wealth Management LLC now owns 24,000 shares of the company’s stock worth $80,000 after purchasing an additional 8,000 shares during the last quarter. Institutional investors own 45.71% of the company’s stock.

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.