Rekor Systems Slumps Ahead of Q1 Earnings
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