Zacks: LRAD Corporation (NASDAQ:GNSS) Given $5.00 Average Price Target by Brokerages

LRAD Corporation (NASDAQ:GNSS) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus price target of $5.00 for the company and are expecting that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also given LRAD an industry rank of 112 out of 255 based on the ratings given to related companies.

A number of brokerages have recently weighed in on GNSS. ValuEngine lowered shares of LRAD from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Oppenheimer restated a “buy” rating and issued a $5.00 price objective on shares of LRAD in a report on Tuesday, February 11th. Zacks Investment Research upgraded shares of LRAD from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Thursday, February 13th. Finally, TheStreet upgraded shares of LRAD from a “c” rating to a “b-” rating in a report on Monday, December 9th.

Several institutional investors and hedge funds have recently made changes to their positions in GNSS. Manatuck Hill Partners LLC bought a new stake in shares of LRAD in the 4th quarter worth approximately $9,814,000. Renaissance Technologies LLC purchased a new position in shares of LRAD in the fourth quarter worth $1,385,000. Essex Investment Management Co. LLC purchased a new position in shares of LRAD in the fourth quarter worth $1,194,000. Geode Capital Management LLC purchased a new position in shares of LRAD in the fourth quarter worth $544,000. Finally, Royce & Associates LP purchased a new position in shares of LRAD in the fourth quarter worth $246,000. Hedge funds and other institutional investors own 48.60% of the company’s stock.

LRAD stock traded up $0.03 during mid-day trading on Wednesday, hitting $3.10. 59,100 shares of the company traded hands, compared to its average volume of 59,953. LRAD has a one year low of $2.62 and a one year high of $4.24. The firm has a market capitalization of $104.93 million, a PE ratio of 38.75 and a beta of 0.31. The business’s fifty day moving average price is $3.46.

LRAD (NASDAQ:GNSS) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $8.78 million during the quarter, compared to analyst estimates of $9.50 million. LRAD had a net margin of 6.63% and a return on equity of 6.73%. As a group, sell-side analysts anticipate that LRAD will post 0.13 earnings per share for the current fiscal year.

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