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

Genasys Inc. (NASDAQ:GNSS) saw a significant growth in short interest in 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 presently 7.1 days.

Insider Buying and Selling

In related news, Director Mark Culhane bought 17,587 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $2.65 per share, with a total value of $46,605.55. Following 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNSS. Cutter & CO Brokerage Inc. raised its position in shares of Genasys by 129.1% in the first quarter. Cutter & CO Brokerage Inc. now owns 120,500 shares of the company’s stock worth $286,000 after acquiring an additional 67,900 shares during the period. Vanguard Group Inc. raised its position in shares of Genasys by 14.0% in the first quarter. Vanguard Group Inc. now owns 1,932,185 shares of the company’s stock worth $4,579,000 after acquiring an additional 237,871 shares during the period. BOKF NA raised its position in shares of Genasys by 54.8% in the first quarter. BOKF NA now owns 84,700 shares of the company’s stock worth $197,000 after acquiring an additional 30,000 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Genasys in the second quarter worth about $875,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of Genasys by 23.1% in the third quarter. Sequoia Financial Advisors LLC now owns 467,883 shares of the company’s stock worth $1,666,000 after acquiring an additional 87,883 shares during the period. 40.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Genasys Stock Down 1.8 %

GNSS stock traded down $0.07 during trading on Wednesday, hitting $3.81. 55,942 shares of the company’s stock traded hands, compared to its average volume of 91,240. The firm has a market capitalization of $169.94 million, a P/E ratio of -6.26 and a beta of 0.53. The business has a fifty day simple moving average of $3.46 and a two-hundred day simple moving average of $2.65. The company has a quick ratio of 1.98, a current ratio of 2.58 and a debt-to-equity ratio of 0.41. Genasys has a 1 year low of $1.51 and a 1 year high of $4.04.

Genasys (NASDAQ:GNSS) last posted its earnings results 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 business had revenue of $7.17 million for the quarter, compared to analyst estimates 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 prior year, the firm earned ($0.04) earnings per share. Sell-side analysts anticipate that Genasys will post -0.57 EPS for the current year.

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.