Rekor Systems Inc [REKR] stock Initiated by Northland Capital analyst, price target now $24

Rekor Systems Inc [NASDAQ: REKR] traded at a low on Wednesday, posting a -10.33 loss after which it closed the day’ session at $2.69. The company report on February 7, 2024 at 8:40 AM that Rekor Systems Announces Pricing of Follow-On Public Offering of Common Stock.

Rekor Systems, Inc. (Nasdaq:REKR) (“Rekor” or the “Company”), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced the pricing of its underwritten public offering of 10,000,000 shares of its common stock (the “Common Stock”) at a price to the public of $2.50 per share. Closing of the offering is expected to occur on or about February 9, 2024, subject to customary closing conditions. In addition, Rekor has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Common Stock at the public offering price less the underwriting discounts and commissions.

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William Blair is acting as sole book-running manager for the offering. Northland Capital Markets is acting as lead manager.

The results of the trading session contributed to over 3684562 shares changing hands. Over the past one week, the price volatility of Rekor Systems Inc stands at 6.01% while the volatility over the past one month is 7.43%.

The market cap for REKR stock reached $186.01 million, with 69.15 million shares outstanding and 63.13 million shares in the current float. Compared to the average trading volume of 894.62K shares, REKR reached a trading volume of 3684562 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Rekor Systems Inc [REKR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for REKR shares is $4.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on REKR stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Northland Capital have made an estimate for Rekor Systems Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 11, 2021.

The Average True Range (ATR) for Rekor Systems Inc is set at 0.24, with the Price to Sales ratio for REKR stock in the period of the last 12 months amounting to 6.55. The Price to Book ratio for the last quarter was 3.77, with the Price to Cash per share for the same quarter was set at 0.11.

How has REKR stock performed recently?

Rekor Systems Inc [REKR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.60. With this latest performance, REKR shares dropped by -25.90% in over the last four-week period, additionally plugging by 4.26% over the last 6 months – not to mention a rise of 46.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for REKR stock in for the last two-week period is set at 30.32, with the RSI for the last a single of trading hit 19.44, and the three-weeks RSI is set at 37.14 for Rekor Systems Inc [REKR]. The present Moving Average for the last 50 days of trading for this stock 3.15, while it was recorded at 3.00 for the last single week of trading, and 2.65 for the last 200 days.

Rekor Systems Inc [REKR]: Deeper insight into the fundamentals

Rekor Systems Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.01 and a Current Ratio set at 1.22.

Earnings analysis for Rekor Systems Inc [REKR]

With the latest financial reports released by the company, Rekor Systems Inc posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 31.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for REKR.

Insider trade positions for Rekor Systems Inc [REKR]

The top three institutional holders of REKR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in REKR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in REKR stock with ownership which is approximately 5.8325%.