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Rekor Systems Slumps Ahead of Q1 Earnings

05/10/2021 11:22

03:12 PM EDT, 05/10/2021 (MT Newswires) -- Rekor Systems (REKR) shares plunged by 30% in afternoon trading amid heavy trading volume ahead of its Q1 earnings on Monday.

More than 3.9 million shares traded intraday versus a daily average trading volume of 964,360, according to data compiled by Yahoo Finance.

Last month, the company said it is expected to report Q1 revenue of more than $4.2 million, compared with $1.6 million a year ago. Chief Financial Officer Eyal Hen attributed the expected growth to a realignment of the company as it focuses on longer-term drivers of demand from its commercial and government sectors.

Price: 12.75, Change: -6.16, Percent Change: -32.57