Executive Chairman of Rekor Systems, Inc. (NASDAQ:REKR), Robert Alan Berman, has made a notable investment in the company's stock, purchasing shares valued at approximately $15.6k. The transaction was executed at a weighted average price of $1.5557 per share, with individual purchases ranging from $1.53 to $1.57.
The acquisition, carried out on May 21, 2024, involved 10,000 shares of Rekor Systems' common stock. Following this transaction, Berman's direct holdings in the company have increased to 1,385,219 shares. Additionally, he indirectly owns 1,165,104 shares through Avon Road, L.P., where he serves as the general partner.
Investors often monitor insider transactions such as these for insights into executive confidence in the company's prospects. The detailed information about the number of shares bought at each price within the specified range can be provided by Berman upon request, as indicated in the transaction's footnotes.
Rekor Systems, a company specializing in communications equipment, is headquartered in Columbia, Maryland. The company, incorporated in Delaware, is recognized for its innovative solutions in the technology sector.
InvestingPro Insights
Amid a recent purchase by Rekor Systems' Executive Chairman Robert Alan Berman, the company's stock metrics reflect a challenging financial landscape. According to InvestingPro data, Rekor Systems boasts a market capitalization of $133.11 million, yet struggles with a negative price-to-earnings (P/E) ratio of -2.86, indicating that the company is not currently profitable. The revenue growth is a bright spot, with a significant increase of 66.56% over the last twelve months as of Q1 2024, suggesting an expanding business amidst broader financial concerns.
InvestingPro Tips reveal that analysts expect sales growth in the current year for Rekor Systems. However, they also note the company's rapid cash burn and have revised their earnings expectations downwards for the upcoming period. This could be a red flag for potential investors considering the company's stock, which has taken a considerable hit over the last six months, with a total price return of -44.68%. Additionally, the company's valuation implies a poor free cash flow yield, and analysts do not anticipate Rekor Systems will be profitable this year. For those interested in a deeper dive into the company's prospects, InvestingPro offers additional tips, with a total of 10 tips available for Rekor Systems at https://www.investing.com/pro/REKR.
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