Geospace Technologies (NASDAQ:GEOS) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a sell rating to a hold rating in a research note issued to investors on Monday.

Geospace Technologies Trading Up 0.4 %

GEOS stock opened at $10.42 on Monday. The firm has a 50 day simple moving average of $9.67 and a 200-day simple moving average of $10.56. The company has a market capitalization of $134.52 million, a P/E ratio of 8.76 and a beta of 0.63. Geospace Technologies has a twelve month low of $8.09 and a twelve month high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.16) earnings per share for the quarter. The company 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 Trading of Geospace Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd bought a new stake in shares of Geospace Technologies in the 2nd quarter valued at approximately $113,000. Rhumbline Advisers increased its stake in Geospace Technologies by 2,370.7% during the second quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock valued at $133,000 after purchasing an additional 14,224 shares during the last quarter. Trexquant Investment LP bought a new stake in Geospace Technologies during the fourth quarter valued at $153,000. Quadrature Capital Ltd acquired a new stake in shares of Geospace Technologies during the fourth quarter worth $168,000. Finally, LSV Asset Management bought a new position in shares of Geospace Technologies in the 1st quarter worth about $191,000. 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.