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

Genasys (NASDAQ:GNSS) had its target price decreased by Ascendiant Capital Markets from $6.00 to $5.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ascendiant Capital Markets’ target price points to a potential upside of 222.58% from the stock’s current price.

Several other research firms have also issued reports on GNSS. Wall Street Zen upgraded shares of Genasys to a “hold” rating in a report on Sunday, July 12th. Roth Capital set a $3.60 price objective on shares of Genasys in a research note on Friday, August 14th. Lake Street Capital set a $3.00 target price on Genasys in a research report on Friday, July 31st. Finally, Weiss Ratings raised Genasys from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.87.

Genasys Stock Up 0.6%

GNSS stock opened at $1.55 on Friday. Genasys has a 52 week low of $1.40 and a 52 week high of $2.70. The firm has a market capitalization of $70.59 million, a P/E ratio of -11.92 and a beta of 0.73. The company has a fifty day simple moving average of $1.71 and a two-hundred day simple moving average of $1.83.

Genasys (NASDAQ:GNSS) last announced its earnings results on Thursday, August 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08). The business had revenue of $7.29 million for the quarter, compared to analysts’ expectations of $15.47 million. Genasys had a negative net margin of 10.86% and a negative return on equity of 435.06%. As a group, analysts anticipate that Genasys will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Genasys

Several large investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC bought a new position in Genasys in the 2nd quarter worth about $28,000. AWM Investment Company Inc. bought a new position in Genasys in the second quarter worth approximately $9,604,000. Manatuck Hill Partners LLC purchased a new position in Genasys during the 2nd quarter worth $1,700,000. BlackRock Inc. purchased a new position in Genasys during the 2nd quarter worth $1,189,000. Finally, FNY Investment Advisers LLC raised its position in Genasys by 69.6% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,145,726 shares of the company’s stock valued at $1,947,000 after purchasing an additional 470,174 shares in the last quarter. 40.04% of the stock is owned by hedge funds and other institutional investors.

Genasys Company Profile

Genasys, Inc (NASDAQ: GNSS) specializes in mission-critical communications and emergency mass notification solutions designed to keep organizations and communities connected during high-stress events. The company’s core offerings include a multi-channel alerting platform that integrates SMS, email, voice, sirens, public address systems and social media outlets. By combining hardware and cloud-based software, Genasys delivers robust, scalable systems that can push targeted warnings and status updates to millions of recipients in seconds.

In addition to its flagship Smart Mass Notification System, Genasys provides hardened private LTE networks, satellite communications terminals and interoperable radio systems tailored for government agencies, defense customers, utilities, energy producers and remote industrial operations.