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Richard Hoe Osgood III, a director at Genasys Inc. (NASDAQ:GNSS), recently purchased 100,000 shares of the company's common stock. The timing is notable as InvestingPro data shows the stock is currently in oversold territory after a 33% decline over the past week, though it maintains a 40% gain over the last six months. The acquisition, which occurred on December 12, 2024, was executed at a weighted average price of $2.64 per share, amounting to a total investment of $264,000. The shares were acquired in multiple transactions, with prices ranging from $2.61 to $2.65. Following this transaction, Osgood’s direct ownership in the company stands at 507,883 shares.
In other recent news, Genasys Inc. reported disappointing fiscal fourth-quarter earnings, with a larger-than-expected loss and an EPS of -$0.26 against a forecast of -$0.11. The company's revenue also fell short, coming in at $6.7 million compared to expectations of $9.03 million. Despite this, Genasys' stock remained steady, suggesting a cautious investor stance. The company's total revenue for the fiscal year dropped by 49% compared to the previous year, primarily due to a decrease in hardware sales. However, software revenue showed robust growth, indicating potential for future growth. Genasys has expressed optimism about its software business, which began the fiscal year with an annual recurring revenue (ARR) of $8.3 million. These are all recent developments in the company's financial performance.
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