Geospace Technologies (NASDAQ:GEOS) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a sell rating in a research note published on Thursday.

Geospace Technologies Trading Up 1.9 %

Shares of GEOS stock opened at $11.24 on Thursday. The company has a market capitalization of $145.11 million, a PE ratio of 14.23 and a beta of 0.63. The firm has a fifty day simple moving average of $10.29 and a 200-day simple moving average of $10.25. Geospace Technologies has a twelve month low of $8.09 and a twelve month high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last announced its earnings results on Thursday, August 8th. The oil and gas company reported ($0.16) earnings per share 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 Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Grace & White Inc. NY boosted its stake in shares of Geospace Technologies by 15.3% in the third quarter. Grace & White Inc. NY now owns 216,096 shares of the oil and gas company’s stock valued at $2,234,000 after purchasing an additional 28,752 shares during the period. Glenorchy Capital Ltd boosted its stake 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 acquiring an additional 4,824 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Geospace Technologies by 14.8% during the 2nd quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock valued at $424,000 after acquiring an additional 6,100 shares during the last quarter. WINTON GROUP Ltd bought a new position in Geospace Technologies during the 2nd quarter valued at $113,000. Finally, Acadian Asset Management LLC boosted its stake in Geospace Technologies by 18.1% during the 2nd quarter. Acadian Asset Management LLC now owns 226,366 shares of the oil and gas company’s stock valued at $2,027,000 after acquiring an additional 34,762 shares during the last quarter. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

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.