Geospace Technologies Co. (NASDAQ:GEOS) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its stake in shares of Geospace Technologies Co. (NASDAQ:GEOS) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 754,750 shares of the oil and gas company’s stock after selling 7,900 shares during the period. Moors & Cabot Inc. owned about 5.65% of Geospace Technologies worth $6,778,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC raised its holdings in Geospace Technologies by 14.8% during the second quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock worth $424,000 after purchasing an additional 6,100 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Geospace Technologies during the 2nd quarter worth $113,000. Acadian Asset Management LLC boosted its position in shares of Geospace Technologies by 18.1% in the 2nd 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. Rhumbline Advisers grew its stake in Geospace Technologies by 2,370.7% in the 2nd quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock valued at $133,000 after acquiring an additional 14,224 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Geospace Technologies in the 2nd quarter valued at about $314,000. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Geospace Technologies from a “hold” rating to a “sell” rating in a report on Saturday, September 7th.

Geospace Technologies Stock Performance

Geospace Technologies stock opened at $10.29 on Tuesday. Geospace Technologies Co. has a fifty-two week low of $8.09 and a fifty-two week high of $17.09. The company has a market capitalization of $132.84 million, a price-to-earnings ratio of 8.65 and a beta of 0.63. The stock has a fifty day moving average of $9.48 and a two-hundred day moving average of $10.72.

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

Geospace Technologies Profile

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.