StockNews.com Downgrades Geospace Technologies (NASDAQ:GEOS) to Sell

StockNews.com lowered shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a sell rating in a research report report published on Saturday.

Geospace Technologies Stock Up 0.2 %

GEOS opened at $9.75 on Friday. The firm has a market cap of $125.87 million, a P/E ratio of 8.19 and a beta of 0.63. Geospace Technologies has a 52 week low of $8.09 and a 52 week high of $17.09. The business has a fifty day simple moving average of $9.40 and a 200-day simple moving average of $10.79.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter. The business had revenue of $25.86 million for the quarter. Geospace Technologies had a return on equity of 7.68% and a net margin of 8.28%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GEOS. Victory Capital Management Inc. boosted its holdings in shares of Geospace Technologies by 34.8% in the fourth quarter. Victory Capital Management Inc. now owns 45,020 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 11,610 shares during the period. Jump Financial LLC acquired a new stake in shares of Geospace Technologies during the fourth quarter worth about $213,000. Hillsdale Investment Management Inc. grew its holdings in shares of Geospace Technologies by 1,067.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 162,242 shares of the oil and gas company’s stock worth $2,103,000 after buying an additional 148,342 shares during the last quarter. Trexquant Investment LP acquired a new position in Geospace Technologies in the 4th quarter valued at about $153,000. Finally, Gate City Capital Management LLC purchased a new stake in Geospace Technologies during the 4th quarter valued at approximately $4,270,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

About Geospace Technologies

Geospace Technologies Corporation designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data in order to locate, characterize, and monitor hydrocarbon producing reservoirs. The company operates through three segments: Oil and Gas Markets, Adjacent Markets, and Emerging Markets.