AWM Investment Company, Inc., a significant stakeholder in Genasys Inc. (NASDAQ:GNSS), recently executed a series of stock sales totaling $367,716. The transactions, which took place over three consecutive days, involved the sale of 99,000 shares of common stock at prices ranging from $3.6704 to $3.7 per share.
The first sale occurred on November 1, 2024, with AWM disposing of 71,225 shares at an average price of $3.6704. This was followed by a smaller transaction on November 4, involving 43 shares at $3.7 each. The final sale on November 5 saw 28,732 shares sold at an average price of $3.6939.
Following these transactions, AWM retains ownership of 5,649,544 shares in Genasys. The sales were conducted through limited partnerships, as noted in the filing. AWM's investment strategy continues to be overseen by principals David M. Greenhouse and Adam C. Stettner, who hold voting and investment power over the shares.
In other recent news, Genasys Inc. has seen a series of notable developments. The company has secured several international orders for its Long Range Acoustic Device (LRAD) systems, which include an order from a West African law enforcement agency and Damen Schelde Naval Shipbuilding B.V. Genasys has also obtained orders from the Alabama-Coushatta Tribe of Texas for its ACOUSTICS systems and the Port of Houston for an upgrade of its PortAlert system.
Furthermore, Genasys has been awarded a FEMA-funded project in Puerto Rico, involving the deployment of an Emergency Warning System across 37 dams, projected to generate approximately $75 million in revenue. The company's fiscal third quarter 2024 earnings call revealed robust growth, with the software business expected to double recurring revenues and ARR. International hardware bookings have also risen by 117% year-over-year.
In addition, Genasys anticipates over $200 million in revenue from key projects in the near future. However, the company has withheld detailed guidance due to uncertainties in larger award revenue recognition timing. These are all recent developments contributing to the company's strong business outlook.
InvestingPro Insights
While AWM Investment Company has reduced its stake in Genasys Inc. (NASDAQ:GNSS), recent market data from InvestingPro provides additional context to this development. Despite the recent stock sales by a major stakeholder, Genasys has demonstrated strong market performance over the past year. According to InvestingPro data, the company has seen a remarkable 111.83% price total return over the last year, with a 59.82% return in the past six months alone.
This positive price momentum is reflected in two key InvestingPro Tips. First, the stock has shown a "Strong return over the last three months," which aligns with the overall upward trend. Second, there has been a "Large price uptick over the last six months," further supporting the stock's recent performance.
However, investors should note that Genasys faces some financial challenges. The company's revenue for the last twelve months as of Q3 2024 stood at $27.97 million, with a concerning revenue growth of -46.22% over the same period. This aligns with another InvestingPro Tip stating that "Analysts anticipate sales decline in the current year."
For those considering an investment in Genasys, it's worth noting that InvestingPro offers 11 additional tips for GNSS, providing a more comprehensive analysis of the company's financial health and market position. These insights can be particularly valuable given the recent insider selling activity and the company's mixed financial indicators.
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