Rekor Systems, Inc. (NASDAQ:REKR) Executive Chairman Robert Alan Berman has recently increased his stake in the company through the purchase of common stock valued at approximately $133,500. The acquisition, which took place on May 17, 2024, involved 100,000 shares at a weighted average price of $1.3352 per share.
The transaction was executed in multiple trades with prices ranging between $1.28 and $1.41. Following this purchase, Berman's direct holdings in Rekor Systems have reached a total of 1,355,219 shares. Additionally, it's noteworthy that Berman is associated with Avon Road, L.P. as the general partner, which indirectly holds 1,165,104 shares of Rekor Systems' common stock.
Investors and interested parties may note that the specific details regarding the number of shares bought at each price point within the stated range can be provided upon request to the issuer, a security holder, or the SEC staff, as indicated in the footnotes of the SEC filing.
Rekor Systems, recognized for its work in the communications equipment sector, has seen its executives actively participating in the market, demonstrating confidence in the company's future. The recent purchase by the executive chairman underscores this sentiment.
The transaction was officially documented and submitted to the Securities and Exchange Commission on May 20, 2024, with the signature of Robert A. Berman confirming the accuracy of the reported information.
InvestingPro Insights
Following the recent acquisition of shares by Rekor Systems, Inc. (NASDAQ:REKR) Executive Chairman Robert Alan Berman, the market is closely watching the company's performance indicators. According to InvestingPro data, Rekor Systems has a market capitalization of $112.63 million and a negative P/E ratio, indicating that the company is not currently profitable. The adjusted P/E ratio for the last twelve months as of Q1 2024 stands at -2.42, further highlighting challenges in earnings.
Despite these challenges, the company has demonstrated a significant revenue growth of 66.56% over the last twelve months as of Q1 2024, with a gross profit margin of 50.9%. This suggests that while profitability is an issue, the company's core business operations are generating substantial revenue growth. The InvestingPro Tips highlight that analysts anticipate sales growth in the current year, which may be a positive signal for potential investors.
However, the stock's technical indicators suggest caution. The Relative Strength Index (RSI) suggests that the stock is in oversold territory, and with analysts not expecting the company to be profitable this year, coupled with a significant price drop over the last week, month, and three months, investors may be wary. It's worth noting that the stock is trading near its 52-week low, which could represent a potential entry point for those who believe in the company's long-term prospects.
For those interested in further analysis and additional InvestingPro Tips, there are 12 more tips available on Rekor Systems at https://www.investing.com/pro/REKR. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing deeper insights into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.