Genasys (NASDAQ:GNSS) Announces Quarterly Earnings Results

Key Points

• Genasys reported a quarterly earnings per share (EPS) of ($0.14), falling short of the consensus estimate of ($0.12) by ($0.02).
• The company's stock saw a modest increase of 1.2%, reaching $1.64 per share, with trading volume above average at 171,724 shares.
• Despite the earnings miss, analysts have mixed views with Ascendiant Capital lowering their price target to $5.50 while Wall Street Zen upgraded the stock from "sell" to "hold".

Genasys (NASDAQ:GNSS - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03), Zacks reports. The firm had revenue of $9.86 million during the quarter, compared to analysts' expectations of $9.16 million. Genasys had a negative return on equity of 214.49% and a negative net margin of 92.19%.

Genasys Price Performance

Genasys stock remained flat at $1.90 during midday trading on Tuesday. The company had a trading volume of 33,416 shares, compared to its average volume of 135,014. The stock has a fifty day simple moving average of $1.72 and a two-hundred day simple moving average of $2.08. The company has a market cap of $85.79 million, a P/E ratio of -3.02 and a beta of 0.59. 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 has a 12-month low of $1.46 and a 12-month high of $4.04.

Hedge Funds Weigh In On Genasys

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd lifted its position in Genasys by 170.6% during the 2nd quarter. XTX Topco Ltd now owns 51,516 shares of the company's stock worth $89,000 after acquiring an additional 32,481 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in 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 in the last quarter. Finally, Jane Street Group LLC lifted its position in Genasys by 126.2% during the 1st 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. 40.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Genasys from a "hold" rating to a "sell" rating in a report on Saturday. Ascendiant Capital Markets cut their price objective on Genasys from $6.00 to $5.50 and set a "buy" rating on the stock in a report on Friday, June 6th.

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.