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

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

Geospace Technologies Stock Performance

Shares of GEOS stock opened at $10.53 on Thursday. The stock’s 50 day simple moving average is $11.34 and its 200 day simple moving average is $10.19. Geospace Technologies has a twelve month low of $8.09 and a twelve month high of $17.09. The company has a market capitalization of $133.84 million, a price-to-earnings ratio of -19.50 and a beta of 0.62.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Grace & White Inc. NY increased its position in 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 worth $1,682,000 after buying an additional 127,974 shares during the period. US Bancorp DE increased its position in Geospace Technologies by 120.0% in the 3rd quarter. US Bancorp DE now owns 71,033 shares of the oil and gas company’s stock worth $734,000 after buying an additional 38,752 shares during the period. Bank of New York Mellon Corp bought a new position in Geospace Technologies in the 2nd quarter worth approximately $314,000. Acadian Asset Management LLC increased its position in Geospace Technologies by 18.1% in the 2nd 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 during the period. Finally, State Street Corp increased its position in Geospace Technologies by 12.4% in the 3rd quarter. State Street Corp now owns 167,497 shares of the oil and gas company’s stock worth $1,732,000 after buying an additional 18,469 shares during the period. 57.15% of the stock is 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.