Insider Selling: LRAD Corporation (NASDAQ:GNSS) Major Shareholder Sells $155,882.48 in Stock

LRAD Corporation (NASDAQ:GNSS) major shareholder Awm Investment Company, Inc. sold 32,408 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $4.81, for a total value of $155,882.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of GNSS stock opened at $4.28 on Friday. LRAD Corporation has a fifty-two week low of $2.01 and a fifty-two week high of $6.10. The firm has a market cap of $141.80 million, a P/E ratio of 85.62 and a beta of 0.54. The business’s 50 day moving average price is $5.04 and its 200-day moving average price is $3.90.

LRAD (NASDAQ:GNSS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $8.28 million during the quarter, compared to analysts’ expectations of $10.20 million. LRAD had a return on equity of 4.14% and a net margin of 4.40%. On average, research analysts forecast that LRAD Corporation will post 0.14 EPS for the current fiscal year.

GNSS has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of LRAD from a “buy” rating to a “hold” rating in a report on Wednesday, May 13th. ValuEngine raised shares of LRAD from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd.

Several large investors have recently bought and sold shares of GNSS. Geode Capital Management LLC bought a new stake in shares of LRAD during the 4th quarter valued at about $544,000. Algert Global LLC purchased a new stake in LRAD in the fourth quarter worth about $35,000. Bank of America Corp DE bought a new stake in LRAD during the 4th quarter valued at approximately $43,000. Bank of New York Mellon Corp bought a new stake in LRAD during the 4th quarter valued at approximately $88,000. Finally, Renaissance Technologies LLC purchased a new position in shares of LRAD during the 4th quarter worth approximately $1,385,000. 48.98% of the stock is owned by hedge funds and other institutional investors.

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