Ascendiant Capital Markets Cuts Genasys (NASDAQ:GNSS) Price Target to $5.00

Key Points

• Ascendiant Capital Markets lowered Genasys’ price target to $5.00 from $6.00 while maintaining a “buy” rating, implying 222.58% upside from the prior close.
• Analyst sentiment remains mixed: Genasys has a consensus “hold” rating and an average price target of $3.87, with targets ranging from $3.00 to $5.00.
• Genasys reported weaker-than-expected quarterly results, including a $0.10 loss per share versus a projected $0.02 loss and revenue of $7.29 million versus expectations of $15.47 million.

Genasys (NASDAQ:GNSS - Get Free Report) had its price target lowered by equities researchers at Ascendiant Capital Markets from $6.00 to $5.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Ascendiant Capital Markets' price objective would indicate a potential upside of 222.58% from the stock's previous close.

A number of other research firms have also recently commented on GNSS. Roth Capital set a $3.60 target price on shares of Genasys in a research note on Friday, August 14th. Weiss Ratings upgraded shares of Genasys from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. Wall Street Zen upgraded shares of Genasys to a "hold" rating in a research note on Sunday, July 12th. Finally, Lake Street Capital set a $3.00 target price on shares of Genasys in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $3.87.

Genasys Price Performance

Shares of GNSS stock opened at $1.55 on Friday. Genasys has a 1 year low of $1.40 and a 1 year high of $2.70. The firm has a fifty day moving average price of $1.71 and a 200-day moving average price of $1.83. The company has a market cap of $70.59 million, a price-to-earnings ratio of -11.92 and a beta of 0.73.

Genasys (NASDAQ:GNSS - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.08). The company had revenue of $7.29 million for the quarter, compared to analysts' expectations of $15.47 million. Genasys had a negative net margin of 10.86% and a negative return on equity of 435.06%. Equities research analysts expect that Genasys will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Genasys

Several institutional investors and hedge funds have recently modified their holdings of GNSS. Two Sigma Securities LLC bought a new position in shares of Genasys during the second quarter worth $28,000. HRT Financial LP purchased a new stake in Genasys in the 4th quarter worth $79,000. XTX Topco Ltd boosted its holdings in shares of Genasys by 170.6% during the 2nd quarter. XTX Topco Ltd now owns 51,516 shares of the company's stock valued at $89,000 after purchasing an additional 32,481 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Genasys by 398.4% during the 4th quarter. Marshall Wace LLP now owns 63,961 shares of the company's stock valued at $138,000 after purchasing an additional 51,127 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Genasys by 114.0% during the first quarter. Goldman Sachs Group Inc. now owns 87,213 shares of the company's stock valued at $198,000 after purchasing an additional 46,452 shares in the last quarter. Institutional investors own 40.04% of the company's stock.

Genasys Company Profile

Genasys, Inc NASDAQ: GNSS specializes in mission-critical communications and emergency mass notification solutions designed to keep organizations and communities connected during high-stress events. The company's core offerings include a multi-channel alerting platform that integrates SMS, email, voice, sirens, public address systems and social media outlets. By combining hardware and cloud-based software, Genasys delivers robust, scalable systems that can push targeted warnings and status updates to millions of recipients in seconds.

In addition to its flagship Smart Mass Notification System, Genasys provides hardened private LTE networks, satellite communications terminals and interoperable radio systems tailored for government agencies, defense customers, utilities, energy producers and remote industrial operations.

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