An interesting stock that came up in some of our conversations today is Rekor Systems, Inc. (NASDAQ:REKR). At current price of $0.87, the shares have already added 0.08 points (9.51% higher) from its previous close of $0.79. Should you buy or avoid them? The stock sets an active trading volume day with a reported 265486 contracts so far this session. REKR shares had a relatively better volume day versus average trading capacity of 74.79 million shares, but with a 11.8 million float and a 0.32% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for REKR stock indicates that the average analyst price target is $4.75 per share. This means the stock has a potential increase of 445.98% from where the REKR share price has been trading recently which is between $0.75 and $0.8.
The shorts are running away from Rekor Systems, Inc. (REKR) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in REKR shares. While short interest still represents only 0.06% of REKR’s float, the number of shares shorted have fallen by -19683. The number of shares shorted fell to 7164 shares, down from 26847 shares during the preceding fortnight. With average daily trading volumes at 19325 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Rekor Systems, Inc. Announces Appointments to Senior Leadership Team” and dated May 15, 2019.
During the recent trading session for Rekor Systems, Inc. (NASDAQ:REKR), the company witnessed their stock rise $0.07 over a week and surge $0.19 from the price 20 days ago. When compared to their established 52-week high of $3.5, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/22/18. The recent low of $0.43 stood for a -75.2% since 12/20/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Rekor Systems, Inc., the two-week RSI stands at 71.22. This figure suggests that REKR stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current REKR readings is similarly very revealing as it has a stochastic reading of 89.08% at this stage. This figure means that REKR share price today is being oversold.
Technical chart claims that Rekor Systems, Inc. (REKR) would settle between $0.81/share to $0.83/share level. However, if the stock price goes below the $0.76 mark, then the market for Rekor Systems, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.73 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Moving on, REKR stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.32 while for the average stock in the same group, the multiple is 2.58.