Genasys Inc. (NASDAQ:GNSS) Position Lessened by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC reduced its stake in shares of Genasys Inc. (NASDAQ:GNSS) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,845 shares of the company’s stock after selling 6,563 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Genasys were worth $148,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Evernest Financial Advisors LLC bought a new position in shares of Genasys during the fourth quarter worth about $49,000. Barclays PLC acquired a new position in Genasys during the 3rd quarter valued at about $70,000. Y Intercept Hong Kong Ltd bought a new position in Genasys in the 4th quarter worth about $63,000. Intergy Private Wealth LLC acquired a new stake in shares of Genasys in the fourth quarter valued at approximately $68,000. Finally, Geode Capital Management LLC raised its holdings in shares of Genasys by 11.2% during the third quarter. Geode Capital Management LLC now owns 483,882 shares of the company’s stock valued at $1,724,000 after buying an additional 48,843 shares during the last quarter. 40.04% of the stock is owned by institutional investors and hedge funds.

Genasys Stock Performance

GNSS stock opened at $2.41 on Monday. The company has a 50-day simple moving average of $2.92 and a 200 day simple moving average of $3.26. The company has a market capitalization of $108.29 million, a P/E ratio of -3.65 and a beta of 0.54. 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 Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $4.04.

Genasys (NASDAQ:GNSS) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Genasys had a negative net margin of 109.39% and a negative return on equity of 122.99%. Sell-side analysts predict that Genasys Inc. will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William H. Dodd acquired 16,327 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average price of $2.65 per share, with a total value of $43,266.55. Following the purchase, the director now owns 59,159 shares of the company’s stock, valued at approximately $156,771.35. This represents a 38.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets increased their price objective on Genasys from $4.75 to $5.50 and gave the stock a “buy” rating in a report on Monday, December 16th.

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.