Why Should You Invest In Rekor Systems Inc (NASDAQ: REKR)?

In the last trading session, 1.04 million Rekor Systems Inc (NASDAQ:REKR) shares changed hands as the company’s beta touched 2.08. With the company’s per share price at $2.91 changed hands at $0.18 or 6.59% during last session, the market valuation stood at $201.23M. REKR’s last price was a discount, traded about -42.61% off its 52-week high of $4.15. The share price had its 52-week low at $0.56, which suggests the last value was 80.76% up since then. When we look at Rekor Systems Inc’s average trading volume, we note the 10-day average is 0.77 million shares, with the 3-month average coming to 998.84K.

Analysts gave the Rekor Systems Inc (REKR) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended REKR as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Rekor Systems Inc’s EPS for the current quarter is expected to be -$0.11.

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Rekor Systems Inc (NASDAQ:REKR) trade information

Instantly REKR was in green as seen at the end of in last trading. With action 8.58%, the performance over the past five days has been green. The jump to weekly highs of 3.05 on Monday, 11/20/23 added 6.59% to the stock’s daily price. The company’s shares are showing year-to-date upside of 142.50%, with the 5-day performance at 8.58% in the green. However, in the 30-day time frame, Rekor Systems Inc (NASDAQ:REKR) is 3.56% up. Looking at the short shares, we see there were 8.17 million shares sold at short interest cover period of 10.71 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.25, meaning bulls need an upside of 31.53% from its current market value. According to analyst projections, REKR’s forecast low is $4.00 with $4.50 as the target high. To hit the forecast high, the stock’s price needs a -54.64% plunge from its current level, while the stock would need to soar -37.46% for it to hit the projected low.

Rekor Systems Inc (REKR) estimates and forecasts

Data shows that the Rekor Systems Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 92.72% over the past 6 months, a 61.31% in annual growth rate that is considerably higher than the industry average of 18.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Rekor Systems Inc will rise 15.40%, while the growth in revenue is estimated to hit 60.90% for the next quarter. Year-over-year growth is forecast to reach 89.20% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $13.81 million. 2 analysts are of the opinion that Rekor Systems Inc’s revenue for the quarter ending Mar 2024 will be $14.15 million. The company’s revenue for the corresponding quarters a year ago was $4.55 million and $6.14 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 203.60%. The estimates for the next quarter sales put growth at 130.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -29.40%. The 2023 estimates are for Rekor Systems Inc earnings to increase by 60.12%.

REKR Dividends

Rekor Systems Inc is expected to release its next quarterly earnings report on November 14.

Rekor Systems Inc (NASDAQ:REKR)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 8.99% of Rekor Systems Inc shares while 47.30% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 51.97%. There are 47.30% institutions holding the Rekor Systems Inc stock share, with Arctis Global LLC the top institutional holder. As of Jun 29, 2023, the company held 11.58% of the shares, roughly 8.01 million REKR shares worth $14.25 million.

Cantor Fitzgerald, L. P. holds the second largest percentage of outstanding shares, with 4.57% or 3.16 million shares worth $5.63 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 1.47 million shares estimated at $2.62 million under it, the former controlled 2.12% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.85% of the shares, roughly 0.59 million shares worth around $1.04 million.

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