Geospace Technologies (NASDAQ:GEOS) Rating Increased to Hold at StockNews.com

Geospace Technologies (NASDAQ:GEOS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Geospace Technologies Stock Up 0.4 %

Shares of Geospace Technologies stock opened at $10.38 on Monday. Geospace Technologies has a 12-month low of $8.09 and a 12-month high of $17.09. The business’s 50 day moving average is $9.65 and its 200-day moving average is $10.57. The stock has a market cap of $138.70 million, a P/E ratio of 8.72 and a beta of 0.63.

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

Institutional Trading of Geospace Technologies

A number of hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd acquired a new stake in Geospace Technologies during the 2nd quarter valued at $113,000. Rhumbline Advisers lifted its stake in shares of 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. Trexquant Investment LP bought a new stake in shares of Geospace Technologies during the 4th quarter worth about $153,000. Quadrature Capital Ltd bought a new stake in shares of Geospace Technologies during the 4th quarter worth about $168,000. Finally, LSV Asset Management acquired a new position in Geospace Technologies in the 1st quarter valued at about $191,000. 57.15% of the stock is 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.