Rekor Systems (NASDAQ:REKR) Upgraded by Zacks Investment Research to “Hold”

Rekor Systems (NASDAQ:REKRGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Rekor Systems Inc. is the parent of Rekor Recognition Systems, Inc. It provides advanced vehicle recognition systems, powered by OpenALPR software, which improve the accuracy of license plate reads and also identify the make, model and color of vehicles. The company’s products used for law enforcement, security and surveillance, electronic toll collection, parking operations, banking and insurance, logistics, traffic management and customer loyalty. Rekor Systems Inc., formerly known as Novume Solutions Inc., is based in Chantilly, Virginia. “

Separately, Lake Street Capital dropped their price objective on Rekor Systems from $11.00 to $6.00 in a report on Friday, April 1st.

NASDAQ REKR opened at $2.89 on Thursday. The business’s 50 day moving average is $3.77 and its two-hundred day moving average is $5.64. Rekor Systems has a 12-month low of $2.15 and a 12-month high of $14.31.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Rekor Systems by 18.0% during the 1st quarter. Vanguard Group Inc. now owns 2,066,646 shares of the company’s stock valued at $9,423,000 after acquiring an additional 315,534 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Rekor Systems in the 1st quarter valued at about $137,000. Rhumbline Advisers lifted its holdings in Rekor Systems by 16.1% in the 1st quarter. Rhumbline Advisers now owns 34,677 shares of the company’s stock valued at $158,000 after purchasing an additional 4,803 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Rekor Systems in the first quarter valued at approximately $156,000. Finally, JPMorgan Chase & Co. grew its stake in Rekor Systems by 19.6% in the 1st quarter. JPMorgan Chase & Co. now owns 26,075 shares of the company’s stock worth $119,000 after acquiring an additional 4,282 shares during the period. Institutional investors and hedge funds own 50.32% of the company’s stock.

Rekor Systems Company Profile (Get Rating)

Rekor Systems, Inc, through its subsidiaries, develops and implements transformative mission-critical intelligent infrastructure solutions and services for transportation management, public safety, and commercial markets in the United States, Canada, and internationally. It offers Rekor One Traffic Management solutions, including software modules for roadway monitoring and response, an incident detection and management solution; traffic and infrastructure analytics to capture data for roadway and infrastructure analytics and planning; and live and archival traffic view for situational awareness of what is happening on roadways.

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