Short Interest in Genasys Inc. (NASDAQ:GNSS) Increases By 7.7%

Genasys Inc. (NASDAQ:GNSS) saw a significant increase in short interest in 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 daily trading volume, of 91,900 shares, the short-interest ratio is currently 6.1 days.

Genasys Price Performance

GNSS stock opened at $3.74 on Friday. The stock has a market capitalization of $166.79 million, a PE ratio of -6.03 and a beta of 0.53. Genasys has a 52 week low of $1.51 and a 52 week high of $4.04. 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 50 day moving average of $3.27 and a 200 day moving average of $2.56.

Genasys (NASDAQ:GNSS) last posted its quarterly 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 company had revenue of $7.17 million during the quarter, compared to analysts’ expectations of $7.48 million. Genasys had a negative return on equity of 66.93% and a negative net margin of 108.72%. During the same period in the prior year, the business posted ($0.04) EPS. Sell-side analysts forecast that Genasys will post -0.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Mark Culhane acquired 17,587 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $2.65 per share, for a total transaction of $46,605.55. Following the purchase, the director now directly owns 37,587 shares of the company’s stock, valued at $99,605.55. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genasys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BOKF NA grew its stake in Genasys by 103.4% during the 2nd quarter. BOKF NA now owns 172,250 shares of the company’s stock valued at $364,000 after purchasing an additional 87,550 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its position in Genasys by 57.9% in the second 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 during the last quarter. Commonwealth Equity Services LLC acquired a new position in Genasys in the 2nd quarter worth approximately $875,000. Finally, Vanguard Group Inc. raised its position in Genasys by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 1,932,185 shares of the company’s stock worth $4,579,000 after buying an additional 237,871 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.