Genasys (NASDAQ:GNSS) Trading Down 1.2% – Here’s What Happened

Shares of Genasys Inc. (NASDAQ:GNSS) dropped 1.2% on Wednesday . The company traded as low as $2.38 and last traded at $2.38. Approximately 122,176 shares changed hands during trading, a decline of 17% from the average daily volume of 146,909 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

Several brokerages have recently weighed in on GNSS. Ascendiant Capital Markets boosted their price objective on shares of Genasys from $5.50 to $5.75 and gave the stock a “buy” rating in a research report on Monday, October 6th. Wall Street Zen raised shares of Genasys from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Genasys in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.75.

Genasys Stock Down 1.2%

The stock has a fifty day moving average price of $2.29 and a 200-day moving average price of $1.96. The firm has a market cap of $107.47 million, a price-to-earnings ratio of -3.78 and a beta of 0.69.

Genasys (NASDAQ:GNSS) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $9.86 million during the quarter, compared to analysts’ expectations of $9.16 million. Genasys had a negative net margin of 92.19% and a negative return on equity of 264.70%. As a group, research analysts expect that Genasys Inc. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC raised its holdings in Genasys by 29.8% during the first quarter. Essex Investment Management Co. LLC now owns 73,763 shares of the company’s stock worth $167,000 after purchasing an additional 16,918 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in Genasys by 8.7% in the 3rd quarter. Prospera Financial Services Inc now owns 246,150 shares of the company’s stock valued at $603,000 after purchasing an additional 19,750 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in Genasys by 2.7% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 1,136,349 shares of the company’s stock worth $2,784,000 after purchasing an additional 29,714 shares during the period. XTX Topco Ltd raised its stake in shares of Genasys by 170.6% during the 2nd quarter. XTX Topco Ltd now owns 51,516 shares of the company’s stock worth $89,000 after buying an additional 32,481 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Genasys by 114.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,213 shares of the company’s stock worth $198,000 after buying an additional 46,452 shares in the last quarter. 40.04% of the stock is currently owned by institutional investors and hedge funds.

About Genasys

Genasys Inc engages in the design, development, and commercialization of critical communications hardware and software solutions to alert, inform, and protect people principally in North and South America, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Hardware and Software.