Genasys Inc. (NASDAQ:GNSS) Sees Significant Increase in Short Interest

Genasys Inc. (NASDAQ:GNSS) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 637,684 shares, a growth of 107.6% from the May 14th total of 307,192 shares. Based on an average daily volume of 135,832 shares, the days-to-cover ratio is presently 4.7 days. Approximately 1.5% of the shares of the stock are sold short.

Genasys Stock Up 1.0%

NASDAQ GNSS traded up $0.02 during trading hours on Friday, hitting $1.93. The company’s stock had a trading volume of 142,400 shares, compared to its average volume of 130,682. The stock has a fifty day moving average of $1.92 and a 200 day moving average of $2.01. Genasys has a twelve month low of $1.40 and a twelve month high of $2.70. The firm has a market capitalization of $87.89 million, a P/E ratio of -11.35 and a beta of 0.70.

Genasys (NASDAQ:GNSS) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.05. Genasys had a negative net margin of 13.44% and a negative return on equity of 314.53%. The business had revenue of $15.51 million for the quarter, compared to analyst estimates of $15.20 million. On average, analysts predict that Genasys will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Lake Street Capital assumed coverage on Genasys in a research note on Friday, March 13th. They set a “buy” rating and a $4.00 target price for the company. Ascendiant Capital Markets boosted their target price on Genasys from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Genasys in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Institutional Investors Weigh In On Genasys

Several hedge funds have recently bought and sold shares of the company. Aristides Capital LLC raised its holdings in Genasys by 8.8% in the first quarter. Aristides Capital LLC now owns 122,655 shares of the company’s stock worth $223,000 after purchasing an additional 9,900 shares during the period. Prospera Financial Services Inc raised its holdings in Genasys by 8.7% in the third quarter. Prospera Financial Services Inc now owns 246,150 shares of the company’s stock worth $603,000 after purchasing an additional 19,750 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in Genasys by 2.7% in the third quarter. Pacific Ridge Capital Partners LLC now owns 1,136,349 shares of the company’s stock worth $2,784,000 after purchasing an additional 29,714 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Genasys by 36.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 119,815 shares of the company’s stock worth $257,000 after acquiring an additional 31,750 shares in the last quarter. Finally, XTX Topco Ltd increased its position 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 acquiring an additional 32,481 shares in the last quarter. 40.04% of the stock is currently owned by institutional investors and hedge funds.

About Genasys

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.