Geospace Technologies (NASDAQ:GEOS) Upgraded at StockNews.com

Geospace Technologies (NASDAQ:GEOS) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Geospace Technologies Price Performance

Geospace Technologies stock traded down $0.46 during trading on Thursday, reaching $10.53. 40,348 shares of the company were exchanged, compared to its average volume of 80,820. Geospace Technologies has a 52-week low of $8.09 and a 52-week high of $17.09. The company has a market capitalization of $133.84 million, a P/E ratio of -19.50 and a beta of 0.62. The stock’s 50 day simple moving average is $11.34 and its two-hundred day simple moving average is $10.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in Geospace Technologies by 40.7% in the third quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 872 shares during the period. EagleClaw Capital Managment LLC purchased a new stake in Geospace Technologies during the 3rd quarter worth about $114,000. WINTON GROUP Ltd purchased a new stake in Geospace Technologies during the 2nd quarter worth about $113,000. Rhumbline Advisers lifted its holdings in Geospace Technologies by 2,370.7% during the 2nd quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock worth $133,000 after buying an additional 14,224 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Geospace Technologies by 278.2% during the 3rd quarter. Barclays PLC now owns 16,622 shares of the oil and gas company’s stock worth $172,000 after buying an additional 12,227 shares during the last quarter. 57.15% of the stock is currently 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.