Geospace Technologies (NASDAQ:GEOS) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a sell rating to a hold rating in a research report released on Wednesday morning.

Geospace Technologies Trading Down 17.3 %

NASDAQ GEOS opened at $11.27 on Wednesday. The stock has a 50 day moving average of $11.32 and a 200-day moving average of $10.24. Geospace Technologies has a 12 month low of $8.09 and a 12 month high of $17.09. The company has a market cap of $145.50 million, a PE ratio of -20.87 and a beta of 0.62.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in 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 purchasing an additional 34,762 shares during the period. Grace & White Inc. NY raised its stake in Geospace Technologies by 15.3% in 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 acquiring an additional 28,752 shares during the period. Glenorchy Capital Ltd lifted its holdings in 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 last quarter. State Street Corp lifted its holdings in Geospace Technologies by 12.4% during the 3rd quarter. State Street Corp now owns 167,497 shares of the oil and gas company’s stock valued at $1,732,000 after purchasing an additional 18,469 shares during the last quarter. Finally, De Lisle Partners LLP boosted its position in Geospace Technologies by 4.7% during the third quarter. De Lisle Partners LLP now owns 144,234 shares of the oil and gas company’s stock worth $1,496,000 after purchasing an additional 6,486 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.