Rekor Systems, Inc. (NASDAQ:REKR) Major Shareholder Arctis Global Llc Acquires 243,902 Shares

Rekor Systems, Inc. (NASDAQ:REKR – Get Rating) major shareholder Arctis Global Llc acquired 243,902 shares of the company’s stock in a transaction dated Thursday, June 16th. The stock was acquired at an average price of $2.15 per share, with a total value of $524,389.30. Following the purchase, the insider now owns 6,089,591 shares in the company, valued at approximately $13,092,620.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Rekor Systems stock traded up $0.19 during mid-day trading on Tuesday, reaching $2.29. 152,899 shares of the stock were exchanged, compared to its average volume of 1,681,051. The firm has a 50-day simple moving average of $2.75 and a 200 day simple moving average of $4.27. Rekor Systems, Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $14.31.

A number of equities analysts have recently issued reports on the stock. Lake Street Capital dropped their price objective on shares of Rekor Systems from $11.00 to $6.00 in a research note on Friday, April 1st. Northland Securities dropped their price objective on shares of Rekor Systems to $8.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Finally, B. Riley dropped their target price on shares of Rekor Systems from $12.00 to $7.00 in a research report on Tuesday, May 17th.

Several institutional investors have recently made changes to their positions in the stock. Morgan Stanley acquired a new stake in Rekor Systems in the 1st quarter valued at about $217,000. Royal Bank of Canada increased its position in Rekor Systems by 75.0% in the 2nd quarter. Royal Bank of Canada now owns 7,436 shares of the company’s stock valued at $76,000 after acquiring an additional 3,186 shares in the last quarter. Bank of America Corp DE increased its position in Rekor Systems by 3,272.8% in the 2nd quarter. Bank of America Corp DE now owns 17,606 shares of the company’s stock valued at $179,000 after acquiring an additional 17,084 shares in the last quarter. Citigroup Inc. increased its position in Rekor Systems by 29.2% in the 3rd quarter. Citigroup Inc. now owns 4,142 shares of the company’s stock valued at $48,000 after acquiring an additional 937 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Rekor Systems by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 563,209 shares of the company’s stock valued at $6,471,000 after acquiring an additional 35,303 shares in the last quarter. Institutional investors and hedge funds own 50.32% of the company’s stock.

About Rekor Systems (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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