Home Top Movers What Is Raising The Genasys (GNSS) Stock In Early Trades Today?

What Is Raising The Genasys (GNSS) Stock In Early Trades Today?

Shares of the global leader in critical communications systems and solutions Genasys Inc. (NASDAQ:GNSS) have gained 3.57% to $6.10 in early trades this morning. Genasys stock finished last trading session at $5.89, down by -3.92%. The GNSS stock traded 130,074 shares, compared to its average daily volume of 141,280 shares. In addition to the successful landing of the multi-million deal to supply LRAD, the GNSS stock is gaining momentum.

Who placed the order?

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Genasys mission is to build safe communities through providing people with critical communications solutions. The Genasys line of systems is in use in 72 countries worldwide for applications including defense, public security, national emergency warning system, mass notification, law enforcement, protection of critical infrastructure, and others.

An $18.3 million follow-on order from the U.S. Army was announced today by Genasys.

  • The total bookings for the fiscal year 2021, which comprise this order in addition to previously received orders, have already surpassed those for the full fiscal year 2020.
  • A Long Range Acoustic Device (LRAD) is one of the most effective means of ensuring that a combatant’s safety is enhanced by controlling both sides of the LRAD.
  • The LRAD 450XL is low profile, lightweight, and designed for mounting on tripods, vehicles, small vessels, and the Common Remotely Operated Weapon Station (CROWS).

GNSS going forward:

There are a number of other contracts anticipated in the second half of the GNSS fiscal year, in addition to the Army order and the Riverside County, California mass notification and emergency management software contract recently announced. Genasys (GNSS) is well positioned for record fiscal year revenues and bookings with these awards and other orders expected for its Integrated Mass Notification systems, and its LRAD systems.

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