Rekor Systems Inc Stock Price, News & Analysis

Rekor Systems (NASDAQ:REKR) announced that the plaintiffs in the class action lawsuit Miller v. Rekor Systems, Inc., et al have filed a Stipulation and Proposed Order of Dismissal, effectively closing the case. Initially filed in June 2021, the lawsuit alleged violations of federal securities laws due to misleading information spread by anonymous short sellers. Lead Director Paul de Bary expressed satisfaction with the swift resolution, which was reached independently by the plaintiffs without compensation.

Rekor Systems, Inc. (NASDAQ:REKR) will release its third quarter 2021 financial results on November 15, 2021, after market close. An earnings conference call is scheduled for the same day at 4:30 p.m. Eastern Time to discuss the financial and operating results for the quarter and year to date. Interested participants can join via a toll-free number or through a live webcast. A playback of the call will also be available for two weeks after the live event. Rekor Systems specializes in intelligent infrastructure and aims to enhance road safety through AI technology.

Rekor Systems commended the $1.2 trillion American Jobs Plan, highlighting its focus on modernizing transportation infrastructure.

CEO Robert A. Berman emphasized the urgent need for intelligent infrastructure, stating it can significantly enhance public safety and sustainability. Rekor's solutions have improved traffic management, reduced emissions by almost 10%, and decreased incident identification times by 9 minutes. The company believes this infrastructure bill presents a major opportunity for enhancing community safety and efficiency across the nation.

Rekor Systems (NASDAQ:REKR) has been selected by Chattanooga, Tennessee, to implement its Rekor One platform for traffic analytics, supporting the city's Smart Corridor+ initiative. This pilot project, backed by a $1.37M grant from the National Science Foundation, aims to analyze vehicle traffic data to tackle congestion, improve safety, and assess emissions. The initiative is part of Chattanooga's ongoing smart city efforts, which have generated over $2.7B in community benefits.

The six-month pilot starts in December and will utilize Rekor sensors alongside the city’s traffic cameras.

Rekor Systems (NASDAQ:REKR) announced its Waycare subsidiary received the ITS World Congress Hall of Fame Industry Award for the Americas. This award honors innovative solutions in Intelligent Traffic Systems (ITS). The ITS World Congress 2021 in Hamburg focused on smart mobility and innovative transportation solutions. Waycare's AI-driven technology improves traffic management using diverse data sources. The recognition underscores the company's contributions during the pandemic, helping organizations adapt and enhance public safety.

Rekor Systems (NASDAQ:REKR) has initiated a six-month pilot project in Gothenburg, Sweden, focusing on AI-based crash prediction technology through its subsidiary, Waycare. This collaboration with Volvo Cars aims to enhance smart city traffic management and safety by leveraging real-time data from connected vehicles. The project is part of the AI Aware program, facilitated by the Swedish Transport Administration and Gothenburg Traffic Management Center. This marks Rekor's first deployment in Europe, with potential for significant improvements in road safety and resource management.

Rekor Systems has partnered with Tomorrow.io, enhancing road safety by integrating weather intelligence into traffic management. The collaboration will allow agencies to gain insights into adverse weather conditions, aiding proactive decision-making to mitigate risks on the roads. This partnership comes in response to increasing extreme weather incidents, providing real-time data to improve forecasting accuracy. Rekor aims to utilize data for effective planning, especially during critical weather events, ultimately enhancing safety for drivers and communities.

Rekor Systems (NASDAQ:REKR) announced that three municipalities in the Mid-Atlantic region will implement its Rekor One™ vehicle intelligence platform to enhance public safety. The cities of Vineland, NJ and New Rochelle, NY, along with the Greenburgh Police Department, will utilize these solutions, with contracts exceeding $200,000. Rekor One™ offers real-time vehicle data access, rapid alerts for AMBER and Silver alerts, and improved investigation capabilities. The cities aim to leverage the technology for broader community safety and efficiency.

Rekor Systems, Inc. (NASDAQ:REKR) announced a collaboration between its subsidiary Waycare Technologies and the Toyota Mobility Foundation to mitigate traffic congestion and incidents on Bangkok's Rama IV Road, one of Thailand's busiest routes. This initiative, leveraging AI technology, aims to reduce the approximately 20,000 annual traffic fatalities in Thailand by utilizing predictive analytics from various data sources such as cameras and road sensors. The year-long project could set a precedent for similar solutions across Southeast Asia.