Genasys (NASDAQ:GNSS) Announces Earnings Results

Genasys (NASDAQ:GNSS) issued its earnings results on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03), FiscalAI reports. Genasys had a negative return on equity of 264.70% and a negative net margin of 92.19%.The firm had revenue of $17.03 million for the quarter, compared to analyst estimates of $19.85 million.

Genasys Trading Up 1.3%

Shares of GNSS traded up $0.03 during trading hours on Tuesday, reaching $2.39. 260,679 shares of the company’s stock traded hands, compared to its average volume of 144,985. Genasys has a 12 month low of $1.46 and a 12 month high of $3.73. The stock has a market cap of $107.91 million, a PE ratio of -3.79 and a beta of 0.59. The firm’s 50 day simple moving average is $2.26 and its 200-day simple moving average is $2.00.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Genasys

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd increased its holdings in shares of Genasys by 170.6% in 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 during the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 46,452 shares during the last quarter. Jane Street Group LLC grew its position in Genasys by 126.2% in the first quarter. Jane Street Group LLC now owns 97,618 shares of the company’s stock worth $222,000 after acquiring an additional 54,461 shares in the last quarter. Finally, Susquehanna International Group LLP increased its stake in Genasys by 76.6% in the third quarter. Susquehanna International Group LLP now owns 183,233 shares of the company’s stock valued at $449,000 after acquiring an additional 79,493 shares during the last quarter. Hedge funds and other institutional investors own 40.04% of the company’s stock.

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.