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

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

Geospace Technologies Trading Down 17.3 %

Shares of GEOS stock opened at $11.27 on Wednesday. The company has a market capitalization of $145.48 million, a P/E ratio of 14.81 and a beta of 0.62. 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 $11.30 and a two-hundred day moving average of $10.26.

Institutional Investors Weigh In On Geospace Technologies

Several institutional investors and hedge funds have recently bought and sold shares of GEOS. Avantax Advisory Services Inc. acquired a new stake in shares of Geospace Technologies during the 1st quarter valued at about $215,000. Acadian Asset Management LLC lifted its stake in Geospace Technologies by 11.4% during the first quarter. Acadian Asset Management LLC now owns 191,604 shares of the oil and gas company’s stock worth $2,524,000 after purchasing an additional 19,660 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in 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 valued at $917,000 after purchasing an additional 28,539 shares in the last quarter. Grace & White Inc. NY grew its stake in shares of Geospace Technologies by 215.6% in the 2nd quarter. Grace & White Inc. NY now owns 187,344 shares of the oil and gas company’s stock valued at $1,682,000 after purchasing an additional 127,974 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Geospace Technologies in the 2nd quarter worth approximately $314,000. Institutional investors 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.