Geospace Technologies (NASDAQ:GEOS) Lowered to “Sell” at StockNews.com

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

Geospace Technologies Stock Performance

GEOS traded up $0.23 during midday trading on Thursday, hitting $11.26. The company had a trading volume of 2,321 shares, compared to its average volume of 84,338. The company has a market capitalization of $145.37 million, a PE ratio of 13.96 and a beta of 0.63. Geospace Technologies has a twelve month low of $8.09 and a twelve month high of $17.09. The firm’s 50-day simple moving average is $10.26 and its 200-day simple moving average is $10.29.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.16) earnings per share for the quarter. The company 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 Investors Weigh In On Geospace Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new position in shares of Geospace Technologies in the 2nd quarter valued at about $113,000. Quadrature Capital Ltd bought a new stake in Geospace Technologies in the fourth quarter valued at approximately $168,000. LSV Asset Management acquired a new stake in Geospace Technologies in the first quarter worth $191,000. Rhumbline Advisers grew its holdings in shares of 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 buying an additional 14,224 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new stake in Geospace Technologies during the 1st quarter worth $215,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

Geospace Technologies Company 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.