Genasys Inc. (NASDAQ:GNSS) Sees Large Growth in Short Interest

Genasys Inc. (NASDAQ:GNSS) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 557,700 shares, an increase of 7.7% from the September 15th total of 517,700 shares. Based on an average trading volume of 91,900 shares, the short-interest ratio is currently 6.1 days.

Insiders Place Their Bets

In other news, Director Mark Culhane acquired 17,587 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 37,587 shares in the company, valued at approximately $99,605.55. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.50% of the company’s stock.

Institutional Trading of Genasys

A number of hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new position in Genasys during the 2nd quarter valued at about $875,000. Vanguard Group Inc. lifted its holdings in shares of Genasys by 14.0% during the first quarter. Vanguard Group Inc. now owns 1,932,185 shares of the company’s stock valued at $4,579,000 after purchasing an additional 237,871 shares during the last quarter. BOKF NA boosted its position in shares of Genasys by 103.4% in the 2nd quarter. BOKF NA now owns 172,250 shares of the company’s stock worth $364,000 after purchasing an additional 87,550 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. increased its position 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 buying an additional 69,750 shares in the last quarter. Institutional investors own 40.04% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Genasys Stock Performance

Shares of GNSS opened at $3.68 on Wednesday. Genasys has a one year low of $1.51 and a one year high of $4.04. The company has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $2.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.58 and a quick ratio of 1.98. The firm has a market capitalization of $164.12 million, a PE ratio of -5.94 and a beta of 0.53.

Genasys (NASDAQ:GNSS) last released its earnings results on Tuesday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $7.17 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned ($0.04) EPS. On average, analysts anticipate that Genasys will post -0.57 EPS for the current fiscal year.

Genasys Company Profile

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.