Ascendiant Capital Markets Has Lowered Expectations for Genasys (NASDAQ:GNSS) Stock Price

Genasys (NASDAQ:GNSS - Get Free Report) had its price target reduced by investment analysts at Ascendiant Capital Markets from $6.00 to $5.50 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Ascendiant Capital Markets' price objective suggests a potential upside of 220.70% from the stock's previous close.

Separately, Wall Street Zen cut shares of Genasys from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Genasys Stock Performance

NASDAQ GNSS traded down $0.09 during trading hours on Friday, hitting $1.72. 149,624 shares of the stock were exchanged, compared to its average volume of 126,356. The company has a market cap of $77.44 million, a price-to-earnings ratio of -2.60 and a beta of 0.54. Genasys has a 12-month low of $1.54 and a 12-month high of $4.04. The stock has a 50-day moving average of $1.92 and a 200 day moving average of $2.55. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.91.

Genasys (NASDAQ:GNSS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $6.93 million for the quarter, compared to analysts' expectations of $8.05 million. Genasys had a negative return on equity of 122.99% and a negative net margin of 109.39%. As a group, equities research analysts forecast that Genasys will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GNSS. Northern Trust Corp raised its position in shares of Genasys by 11.6% during the 4th quarter. Northern Trust Corp now owns 91,588 shares of the company's stock worth $238,000 after purchasing an additional 9,504 shares during the last quarter. Integrity Wealth Advisors Inc. acquired a new stake in Genasys during the 4th quarter valued at $17,406,000. Jane Street Group LLC acquired a new stake in Genasys during the 4th quarter valued at $112,000. Y Intercept Hong Kong Ltd acquired a new stake in Genasys during the 4th quarter valued at $63,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Genasys during the 4th quarter valued at $71,000. 40.04% of the stock is owned by hedge funds and other institutional investors.

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.