StockNews.com Lowers Geospace Technologies (NASDAQ:GEOS) to Sell

StockNews.com lowered shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Geospace Technologies Price Performance

Shares of Geospace Technologies stock opened at $11.24 on Thursday. The business’s fifty day moving average price is $10.29 and its two-hundred day moving average price is $10.25. The company has a market capitalization of $145.11 million, a P/E ratio of 14.23 and a beta of 0.63. Geospace Technologies has a 1-year low of $8.09 and a 1-year high of $17.09.

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

Hedge Funds Weigh In On Geospace Technologies

Several hedge funds have recently modified their holdings of the company. Grace & White Inc. NY increased its position in shares of Geospace Technologies by 15.3% during the 3rd quarter. Grace & White Inc. NY now owns 216,096 shares of the oil and gas company’s stock valued at $2,234,000 after purchasing an additional 28,752 shares during the period. Glenorchy Capital Ltd increased its position in shares of Geospace Technologies by 2.7% during the 3rd quarter. Glenorchy Capital Ltd now owns 186,217 shares of the oil and gas company’s stock valued at $1,925,000 after purchasing an additional 4,824 shares during the period. Renaissance Technologies LLC increased its position in shares of Geospace Technologies by 14.8% during the 2nd quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock valued at $424,000 after purchasing an additional 6,100 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Geospace Technologies during the 2nd quarter valued at $113,000. Finally, Acadian Asset Management LLC increased its position in shares of Geospace Technologies by 18.1% during the 2nd quarter. Acadian Asset Management LLC now owns 226,366 shares of the oil and gas company’s stock valued at $2,027,000 after purchasing an additional 34,762 shares during the period. 57.15% of the stock is currently owned by institutional investors and hedge funds.

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.