Genasys (NASDAQ:GNSS) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Genasys (NASDAQ:GNSS) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a negative outlook from analysts.
• Ascendiant Capital Markets has lowered its price target for Genasys from $6.00 to $5.50 while maintaining a "buy" rating.
• The company reported a quarterly loss of ($0.14) earnings per share, missing estimates, despite revenue exceeding expectations at $9.86 million.

Wall Street Zen lowered shares of Genasys (NASDAQ:GNSS - Free Report) from a hold rating to a sell rating in a report published on Saturday morning.

Separately, Ascendiant Capital Markets reduced their price target on Genasys from $6.00 to $5.50 and set a "buy" rating for the company in a research report on Friday, June 6th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Genasys presently has a consensus rating of "Buy" and an average target price of $5.33.

Genasys Trading Down 1.1%

Shares of GNSS traded down $0.02 during trading hours on Friday, hitting $1.85. The company had a trading volume of 46,561 shares, compared to its average volume of 109,766. The company has a market capitalization of $83.53 million, a PE ratio of -2.94 and a beta of 0.59. Genasys has a one year low of $1.46 and a one year high of $4.04. The company's fifty day moving average price is $1.73 and its two-hundred day moving average price is $2.08.

Genasys (NASDAQ:GNSS - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $9.86 million during the quarter, compared to the consensus estimate of $9.16 million. Genasys had a negative return on equity of 264.70% and a negative net margin of 92.19%. Analysts forecast that Genasys will post -0.23 earnings per share for the current year.

Institutional Trading of Genasys

A number of institutional investors have recently made changes to their positions in GNSS. Boothbay Fund Management LLC acquired a new stake in shares of Genasys in the 4th quarter worth $31,000. OMERS ADMINISTRATION Corp purchased a new position in Genasys in the 4th quarter worth $42,000. XTX Topco Ltd purchased a new position in Genasys in the 4th quarter worth $66,000. Integrated Wealth Concepts LLC raised its stake in Genasys by 36.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 27,031 shares of the company's stock worth $70,000 after acquiring an additional 7,250 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Genasys by 57.7% in the 4th quarter. Marshall Wace LLP now owns 34,481 shares of the company's stock worth $90,000 after acquiring an additional 12,621 shares during the last quarter. Institutional investors and hedge funds 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.