Hood River Capital Management LLC Makes New Investment in Rekor Systems, Inc. (NASDAQ:REKR)

Hood River Capital Management LLC acquired a new stake in Rekor Systems, Inc. (NASDAQ:REKR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,209,139 shares of the company’s stock, valued at approximately $2,769,000. Hood River Capital Management LLC owned about 1.42% of Rekor Systems as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in REKR. Vanguard Group Inc. raised its stake in Rekor Systems by 31.7% in the 1st quarter. Vanguard Group Inc. now owns 3,453,249 shares of the company’s stock valued at $7,908,000 after acquiring an additional 830,761 shares during the period. Cantor Fitzgerald L. P. raised its position in shares of Rekor Systems by 10.0% in the fourth quarter. Cantor Fitzgerald L. P. now owns 3,507,335 shares of the company’s stock valued at $11,679,000 after purchasing an additional 320,265 shares during the period. Sei Investments Co. bought a new position in shares of Rekor Systems in the first quarter valued at about $454,000. Perkins Capital Management Inc. acquired a new stake in shares of Rekor Systems during the 1st quarter worth about $344,000. Finally, Sierra Summit Advisors LLC bought a new stake in shares of Rekor Systems during the 4th quarter worth about $312,000. 45.71% of the stock is currently owned by institutional investors.

Rekor Systems Stock Performance

Rekor Systems stock traded up $0.09 during trading hours on Friday, hitting $1.87. The company had a trading volume of 759,745 shares, compared to its average volume of 1,506,287. The firm has a 50-day moving average of $1.65 and a 200 day moving average of $2.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 1.07. The firm has a market cap of $165.48 million, a PE ratio of -2.56 and a beta of 2.03. Rekor Systems, Inc. has a one year low of $1.28 and a one year high of $4.15.

Rekor Systems (NASDAQ:REKR) last announced its earnings results on Wednesday, May 15th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.12). The firm had revenue of $9.78 million for the quarter, compared to the consensus estimate of $13.03 million. Rekor Systems had a negative return on equity of 118.77% and a negative net margin of 133.98%. On average, sell-side analysts expect that Rekor Systems, Inc. will post -0.53 earnings per share for the current year.

Insider Activity at Rekor Systems

In other Rekor Systems news, major shareholder Arctis Global Llc acquired 2,275,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was acquired at an average price of $1.40 per share, for a total transaction of $3,185,000.00. Following the acquisition, the insider now directly owns 12,312,491 shares in the company, valued at $17,237,487.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.40% of the stock is owned by insiders.

Rekor Systems Profile

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.