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 report issued on Thursday.

Geospace Technologies Stock Up 2.0 %

GEOS opened at $10.74 on Thursday. The firm’s 50 day moving average is $11.35 and its 200-day moving average is $10.20. Geospace Technologies has a 52-week low of $8.09 and a 52-week high of $17.09. The firm has a market capitalization of $136.51 million, a P/E ratio of -19.89 and a beta of 0.62.

Institutional Trading of Geospace Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of GEOS. US Bancorp DE boosted its holdings in Geospace Technologies by 120.0% in the third quarter. US Bancorp DE now owns 71,033 shares of the oil and gas company’s stock valued at $734,000 after purchasing an additional 38,752 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Geospace Technologies by 59.2% during the 3rd quarter. Empowered Funds LLC now owns 46,002 shares of the oil and gas company’s stock valued at $476,000 after buying an additional 17,098 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Geospace Technologies by 18.1% during the second quarter. Acadian Asset Management LLC now owns 226,366 shares of the oil and gas company’s stock worth $2,027,000 after buying an additional 34,762 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Geospace Technologies in the second quarter worth $314,000. Finally, Renaissance Technologies LLC raised its holdings in Geospace Technologies by 14.8% in the second quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock valued at $424,000 after acquiring an additional 6,100 shares in the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

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.