Short Interest in Genasys Inc. (NASDAQ:GNSS) Expands By 24.7%

by · The Cerbat Gem

Genasys Inc. (NASDAQ:GNSS – Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 695,600 shares, a growth of 24.7% from the September 30th total of 557,700 shares. Based on an average daily trading volume, of 97,500 shares, the short-interest ratio is currently 7.1 days.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Ascendiant Capital Markets upped their price objective on shares of Genasys from $4.25 to $4.75 and gave the company a “buy” rating in a research note on Monday, August 19th. Roth Mkm lifted their price objective on shares of Genasys from $3.50 to $4.50 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Northland Securities lifted their price objective on Genasys from $4.50 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th.

Get Our Latest Research Report on Genasys

Insider Activity

In other news, Director Mark Culhane bought 17,587 shares of Genasys stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $2.65 per share, with a total value of $46,605.55. Following the purchase, the director now directly owns 37,587 shares of the company’s stock, valued at approximately $99,605.55. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Genasys

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC acquired a new position in Genasys during the 2nd quarter worth approximately $875,000. Vanguard Group Inc. boosted its holdings in shares of Genasys by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 1,932,185 shares of the company’s stock valued at $4,579,000 after buying an additional 237,871 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Genasys by 23.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 467,883 shares of the company’s stock valued at $1,666,000 after buying an additional 87,883 shares during the last quarter. BOKF NA boosted its holdings in shares of Genasys by 103.4% in the 2nd quarter. BOKF NA now owns 172,250 shares of the company’s stock valued at $364,000 after buying an additional 87,550 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its holdings in Genasys by 57.9% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 190,250 shares of the company’s stock valued at $403,000 after purchasing an additional 69,750 shares during the last quarter. Institutional investors and hedge funds own 40.04% of the company’s stock.

Genasys Price Performance

GNSS traded down $0.26 during midday trading on Wednesday, reaching $3.62. 150,923 shares of the company’s stock were exchanged, compared to its average volume of 91,699. The company has a quick ratio of 1.98, a current ratio of 2.58 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $161.47 million, a price-to-earnings ratio of -6.10 and a beta of 0.53. Genasys has a one year low of $1.51 and a one year high of $4.04. The business has a 50-day simple moving average of $3.46 and a two-hundred day simple moving average of $2.65.

Genasys (NASDAQ:GNSS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $7.17 million for the quarter, compared to the consensus estimate of $7.48 million. Genasys had a negative net margin of 108.72% and a negative return on equity of 66.93%. During the same period in the previous year, the business posted ($0.04) earnings per share. As a group, research analysts predict that Genasys will post -0.57 EPS for the current year.

Genasys Company Profile

(Get Free Report)

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.

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