Rekor Systems Inc: Why Investors Shouldn’t Get Rid Of REKR Stock In 2024

In the last trading session, 1.21 million shares of the Rekor Systems Inc (NASDAQ:REKR) were traded, and its beta was 2.15. Most recently the company’s share price was $2.14, and it changed around -$0.11 or -4.89% from the last close, which brings the market valuation of the company to $182.58M. REKR currently trades at a discount to its 52-week high of $4.15, offering almost -93.93% off that amount. The share price’s 52-week low was $1.00, which indicates that the current value has risen by an impressive 53.27% since then. We note from Rekor Systems Inc’s average daily trading volume that its 10-day average is 1.92 million shares, with the 3-month average coming to 1.21 million.

Rekor Systems Inc (NASDAQ:REKR) trade information

Instantly REKR has showed a red trend with a performance of -4.89% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -35.74% year-to-date, but still up 3.88% over the last five days. On the other hand, Rekor Systems Inc (NASDAQ:REKR) is -11.20% down in the 30-day period. We can see from the shorts that 10.92 million shares have been sold at a short interest cover period of 9.92 day(s).

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The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to increase their stock price by 28.67% from its current value. Analyst projections state that REKR is forecast to be at a low of $3 and a high of $3.

Rekor Systems Inc (REKR) estimates and forecasts

Rekor Systems Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -24.11 percent over the past six months and at a 59.72% annual growth rate that is well above the industry average of 19.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 52.20% in revenue this quarter, and will report an increase of 61.10% in the next quarter. The year-over-year growth rate is expected to be 89.10%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $13.02 million in revenue for the current quarter. 2 analysts expect Rekor Systems Inc to make $16.32 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 112.10%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -10.32%.

REKR Dividends

Rekor Systems Inc’s next quarterly earnings report is expected to be released on March 25.

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

Upon looking at major shareholders, it appears that insiders hold 7.24% of Rekor Systems Inc shares, and 45.87% of them are in the hands of institutional investors. The stock currently has a share float of 49.44%. Rekor Systems Inc stock is held by 106 institutions, with Arctis Global LLC being the largest institutional investor. By Jun 29, 2023, it held 11.58% of the shares, which is about 8.01 million shares worth $14.25 million.

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

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 1.47 million shares worth $2.62 million, making up 2.12% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.59 million shares worth around $1.04 million, which represents about 0.85% of the total shares outstanding.