Genasys (NASDAQ:GNSS) Price Target Raised to $5.75 at Ascendiant Capital Markets

Key Points

• Ascendiant Capital Markets has raised its price target for Genasys (NASDAQ:GNSS) from $5.50 to $5.75, suggesting a potential upside of 138.59% from the last close.
• The stock has a consensus rating of "Hold" with one analyst rating it as a buy and another as a sell.
• Genasys reported a quarterly loss of ($0.14) EPS, missing expectations, but had revenue of $9.86 million, surpassing the consensus estimate of $9.16 million.

Genasys (NASDAQ:GNSS - Get Free Report) had its price objective boosted by analysts at Ascendiant Capital Markets from $5.50 to $5.75 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Ascendiant Capital Markets' price objective points to a potential upside of 138.59% from the company's previous close.

A number of other research firms also recently issued reports on GNSS. Weiss Ratings reiterated a "sell (e+)" rating on shares of Genasys in a report on Saturday, September 27th. Wall Street Zen raised shares of Genasys from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.75.

Genasys Stock Up 3.0%

Genasys stock opened at $2.41 on Monday. The company has a 50 day moving average of $2.01 and a 200-day moving average of $1.93. Genasys has a twelve month low of $1.46 and a twelve month high of $4.04. The stock has a market capitalization of $108.81 million, a PE ratio of -3.83 and a beta of 0.69.

Genasys (NASDAQ:GNSS - Get Free Report) last posted its quarterly earnings data 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 net margin of 92.19% and a negative return on equity of 264.70%. Equities analysts anticipate that Genasys will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Genasys

Hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd lifted its holdings in shares of Genasys by 170.6% during the second quarter. XTX Topco Ltd now owns 51,516 shares of the company's stock worth $89,000 after buying an additional 32,481 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in Genasys by 29.8% in the first quarter. Essex Investment Management Co. LLC now owns 73,763 shares of the company's stock valued at $167,000 after purchasing an additional 16,918 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in Genasys by 358.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 74,800 shares of the company's stock valued at $170,000 after purchasing an additional 58,500 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Genasys by 114.0% in 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. Finally, Jane Street Group LLC raised its stake in Genasys by 126.2% in the first quarter. Jane Street Group LLC now owns 97,618 shares of the company's stock valued at $222,000 after purchasing an additional 54,461 shares in the last quarter. Institutional investors and hedge funds own 40.04% of the company's stock.

Genasys Company Profile

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.

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