Geospace Technologies (NASDAQ:GEOS) Announces Earnings Results

Geospace Technologies (NASDAQ:GEOS) released its quarterly earnings data on Wednesday. The oil and gas company reported ($0.76) earnings per share (EPS) for the quarter, Zacks reports. Geospace Technologies had a negative return on equity of 21.28% and a negative net margin of 28.10%.The business had revenue of $25.59 million for the quarter.

Geospace Technologies Price Performance

Shares of Geospace Technologies stock opened at $9.36 on Friday. The firm’s fifty day simple moving average is $17.46 and its 200-day simple moving average is $18.82. Geospace Technologies has a 12 month low of $5.51 and a 12 month high of $29.89. The stock has a market capitalization of $120.65 million, a price-to-earnings ratio of -4.29 and a beta of 0.46.

Institutional Investors Weigh In On Geospace Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in GEOS. Two Sigma Investments LP grew its holdings in shares of Geospace Technologies by 142.1% during the third quarter. Two Sigma Investments LP now owns 36,976 shares of the oil and gas company’s stock worth $701,000 after buying an additional 21,705 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Geospace Technologies by 5.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 138,619 shares of the oil and gas company’s stock worth $2,628,000 after acquiring an additional 7,141 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Geospace Technologies in the 3rd quarter valued at approximately $1,014,000. Glenorchy Capital Ltd grew its stake in shares of Geospace Technologies by 1.0% in the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock valued at $2,765,000 after purchasing an additional 1,946 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Geospace Technologies by 86.1% in the third quarter. Bank of America Corp DE now owns 24,277 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 11,234 shares during the period. 57.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GEOS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Geospace Technologies in a report on Monday, December 29th. Wall Street Zen downgraded shares of Geospace Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

About Geospace Technologies

Geospace Technologies Corporation specializes in the design, manufacturing and marketing of geophysical instrumentation for seismic data acquisition. The company’s solutions address the needs of oil and gas exploration and production companies by enabling detailed subsurface imaging through advanced sensor and acquisition systems. Geospace serves both land and marine seismic markets, offering equipment that meets the rigorous demands of contemporary seismic surveys.

In its Land Products segment, Geospace Technologies offers a range of components including geophones, accelerometers, cable and recorder accessories designed to collect high-quality seismic signals in onshore environments.