Geospace Technologies (NASDAQ:GEOS) Stock Rating Lowered by StockNews.com

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

Geospace Technologies Price Performance

Shares of Geospace Technologies stock traded up $0.23 during trading hours on Thursday, hitting $11.26. The company’s stock had a trading volume of 2,321 shares, compared to its average volume of 84,338. Geospace Technologies has a 12 month low of $8.09 and a 12 month high of $17.09. The stock has a 50 day moving average of $10.26 and a 200 day moving average of $10.29. The company has a market capitalization of $145.37 million, a PE ratio of 13.96 and a beta of 0.63.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in shares of 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 buying an additional 34,762 shares in the last quarter. Grace & White Inc. NY grew its holdings in shares of Geospace Technologies by 15.3% during the third quarter. Grace & White Inc. NY now owns 216,096 shares of the oil and gas company’s stock worth $2,234,000 after buying an additional 28,752 shares in the last quarter. Glenorchy Capital Ltd grew its holdings in shares of Geospace Technologies by 2.7% during the third quarter. Glenorchy Capital Ltd now owns 186,217 shares of the oil and gas company’s stock worth $1,925,000 after buying an additional 4,824 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Geospace Technologies by 7.3% during the first quarter. Hillsdale Investment Management Inc. now owns 174,142 shares of the oil and gas company’s stock worth $2,297,000 after buying an additional 11,900 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Geospace Technologies by 69.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 69,558 shares of the oil and gas company’s stock worth $917,000 after buying an additional 28,539 shares in the last quarter. 57.15% of the stock is currently owned by 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.