Rekor Systems Inc (NASDAQ:REKR), a roadway intelligence firm, saw shares rise on Monday after securing a $16.8 million multi-year agreement in principle with the Oklahoma District Attorneys Council.

• Rekor Systems stock is surging to new heights today. Why are REKR shares rallying?

$16.8M Oklahoma Deal

The deal extends Rekor's role as the technology partner for the Uninsured Vehicle Enforcement Diversion (UVED) Program, subject to final contract negotiations.

The program uses vehicle recognition sensors to identify uninsured drivers, cross-check data with the Oklahoma Insurance Verification System, and issue compliance notices with steps to obtain and maintain insurance.

Program Impact and Results

Rekor has supported the program since 2020, helping divert cases from courts and reduce strain on law enforcement. Oklahoma has improved its uninsured motorist ranking to 27th nationally, up from among the worst.

Strategic Growth and Revenue

The agreement strengthens Rekor's position in public safety and compliance technology while adding a recurring revenue stream to its portfolio.

Charles Degliomini, executive vice president of Rekor Systems, added, “This contract reflects more than a business relationship. It reflects confidence in what Rekor’s technology has delivered since we began this work in 2020.”

REKR Technical Analysis: Key Levels and Momentum

Rekor Systems is trading at 97 cents, within its 52-week range of 72 cents to $3.42.

The stock is currently 10% above its 20-day simple moving average (SMA) and 7.8% above its 50-day SMA, indicating positive short-term momentum.

However, it remains 16.8% below its 100-day SMA and 34% below its 200-day SMA, suggesting a bearish intermediate to long-term trend.

The relative strength index (RSI) is at 52.97, indicating neutral momentum. This level suggests that the stock is neither overbought nor oversold, which could mean a potential for further price movement in either direction.

  • Key Resistance: $1 — A psychological barrier that could attract selling pressure.
  • Key Support: 85 cents — A level where buying interest may emerge.

REKR Earnings Preview and Analyst Outlook

The countdown is on: Rekor Systems is set to report earnings on May 11 (confirmed).

  • EPS Estimate: Loss of six cents (up from loss of 10 cents)
  • Revenue Estimate: $11.16 million (up from $9.20 million)

REKR Stock Price Today: Shares Rise On Contract News

REKR Stock Price Activity: Rekor Systems shares were up 3.92% at 91 cents at the time of publication on Monday, according to Benzinga Pro data.

Photo: Jaroslav Pachy sr via Shutterstock