Fi3 FINANCIAL ADVISORS LLC Takes Position in Genasys Inc. (NASDAQ:GNSS)

Key Points

• Fi3 Financial Advisors LLC acquired 290,346 shares of Genasys Inc. for approximately $659,000, representing about 0.65% of the company's total shares.
• Wall Street analysts have adjusted Genasys's price target, with Ascendiant Capital Markets lowering it from $6.00 to $5.50 while maintaining a "buy" rating.
• Genasys reported a loss of ($0.14) earnings per share for the last quarter, missing estimates, with a revenue of $6.93 million versus projected $8.05 million.

Fi3 FINANCIAL ADVISORS LLC acquired a new stake in shares of Genasys Inc. (NASDAQ:GNSS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 290,346 shares of the company's stock, valued at approximately $659,000. Fi3 FINANCIAL ADVISORS LLC owned approximately 0.65% of Genasys at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its stake in shares of Genasys by 29.8% in the first quarter. Essex Investment Management Co. LLC now owns 73,763 shares of the company's stock worth $167,000 after buying an additional 16,918 shares during the period. FNY Investment Advisers LLC increased its position in Genasys by 87.5% during the 1st quarter. FNY Investment Advisers LLC now owns 510,314 shares of the company's stock valued at $1,158,000 after purchasing an additional 238,114 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in Genasys during the 4th quarter valued at $42,000. Millennium Management LLC purchased a new position in Genasys during the 4th quarter valued at $348,000. Finally, 683 Capital Management LLC purchased a new stake in shares of Genasys in the 4th quarter worth about $237,000. Hedge funds and other institutional investors own 40.04% of the company's stock.

Genasys Stock Performance

NASDAQ GNSS traded down $0.03 on Friday, reaching $1.61. 44,837 shares of the stock were exchanged, compared to its average volume of 134,866. Genasys Inc. has a one year low of $1.46 and a one year high of $4.04. The firm has a market capitalization of $72.69 million, a PE ratio of -2.52 and a beta of 0.59. The company's 50-day simple moving average is $1.72 and its two-hundred day simple moving average is $2.16. The company has a current ratio of 1.04, a quick ratio of 0.65 and a debt-to-equity ratio of 1.59.

Genasys (NASDAQ:GNSS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). Genasys had a negative net margin of 101.82% and a negative return on equity of 166.96%. The company had revenue of $6.93 million for the quarter, compared to analysts' expectations of $8.05 million. Analysts expect that Genasys Inc. will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GNSS. Ascendiant Capital Markets cut their price objective on shares of Genasys from $6.00 to $5.50 and set a "buy" rating on the stock in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Genasys from a "sell" rating to a "hold" rating in a research note on Friday, July 18th.

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.