Rekor Systems Inc (NASDAQ: REKR) stock jumped 7.48% on Friday to $2.73 against a previous-day closing price of $2.54. With 1.07 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.01 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $2.8200 whereas the lowest price it dropped to was $2.5400. The 52-week range on REKR shows that it touched its highest point at $4.15 and its lowest point at $0.56 during that stretch. It currently has a 1-year price target of $4.25. Beta for the stock currently stands at 2.06.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of REKR was up-trending over the past week, with a rise of 4.20%, but this was down by -1.80% over a month. Three-month performance dropped to -20.41% while six-month performance rose 106.04%. The stock gained 170.30% in the past year, while it has gained 127.50% so far this year. A look at the trailing 12-month EPS for REKR yields -0.70 with Next year EPS estimates of -0.30. For the next quarter, that number is -0.11. This implies an EPS growth rate of 60.12% for this year and 55.22% for next year.
Float and Shares Shorts:
At present, 69.15 million REKR shares are outstanding with a float of 63.40 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.17 million, which was 11.82% higher than short shares on Sep 28, 2023. In addition to Mr. Robert Alan Berman as the firm’s Executive Chairman & CEO, Mr. David Philip Desharnais serves as its President & COO.
Institutional Ownership:
Through their ownership of 47.30% of REKR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 46.00% of REKR, in contrast to 4.82% held by mutual funds. Shares owned by individuals account for 24.67%. As the largest shareholder in REKR with 13.95% of the stake, Arctis Management UK Ltd. holds 9,647,491 shares worth 9,647,491. A second-largest stockholder of REKR, Armistice Capital LLC, holds 5,164,000 shares, controlling over 7.47% of the firm’s shares. Cantor Fitzgerald Europe is the third largest shareholder in REKR, holding 3,187,070 shares or 4.61% stake. With a 2.30% stake in REKR, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,590,214 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.25% of REKR stock, is the second-largest Mutual Fund holder. It holds 864,834 shares valued at 2.38 million. Fidelity Extended Market Index Fu holds 0.48% of the stake in REKR, owning 330,318 shares worth 0.91 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for REKR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With REKR analysts setting a high price target of $4.50 and a low target of $4.00, the average target price over the next 12 months is $4.25. Based on these targets, REKR could surge 64.84% to reach the target high and rise by 46.52% to reach the target low. Reaching the average price target will result in a growth of 55.68% from current levels.
Summary of Insider Activity:
Insiders traded REKR stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 110,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 4,019,362 while 54,986 shares were sold.
