Moors & Cabot Inc. Has $13.55 Million Stock Holdings in Geospace Technologies Corporation $GEOS

Moors & Cabot Inc. decreased its position in shares of Geospace Technologies Corporation (NASDAQ:GEOS) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 714,750 shares of the oil and gas company’s stock after selling 49,850 shares during the period. Moors & Cabot Inc. owned 0.06% of Geospace Technologies worth $13,552,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in shares of Geospace Technologies by 8.2% during the 1st quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock worth $376,000 after purchasing an additional 3,969 shares in the last quarter. Glenorchy Capital Ltd lifted its holdings in shares of Geospace Technologies by 1.0% during the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock valued at $2,765,000 after buying an additional 1,946 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Geospace Technologies in the 2nd quarter valued at approximately $51,000. Bank of America Corp DE increased its holdings in Geospace Technologies by 68.4% in the second quarter. Bank of America Corp DE now owns 13,043 shares of the oil and gas company’s stock worth $186,000 after buying an additional 5,299 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Geospace Technologies during the second quarter valued at approximately $306,000. 57.15% of the stock is owned by institutional investors and hedge funds.

Geospace Technologies Stock Up 5.8%

Shares of NASDAQ GEOS opened at $12.24 on Tuesday. Geospace Technologies Corporation has a 12 month low of $5.51 and a 12 month high of $29.89. The company has a market cap of $157.75 million, a P/E ratio of -5.61 and a beta of 0.51. The business’s 50 day moving average is $14.37 and its two-hundred day moving average is $17.70.

Geospace Technologies (NASDAQ:GEOS) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.76) earnings per share (EPS) for the quarter. Geospace Technologies had a negative return on equity of 21.91% and a negative net margin of 28.10%.The company had revenue of $25.59 million for the quarter.

Analysts Set New Price Targets

A number of analysts have issued reports on GEOS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Geospace Technologies in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Geospace Technologies from a “hold” rating to a “strong sell” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Geospace Technologies Profile

Geospace Technologies Corporation specializes in the design, manufacturing and marketing of geophysical instrumentation for seismic data acquisition. The company’s solutions address the needs of oil and gas exploration and production companies by enabling detailed subsurface imaging through advanced sensor and acquisition systems. Geospace serves both land and marine seismic markets, offering equipment that meets the rigorous demands of contemporary seismic surveys.

In its Land Products segment, Geospace Technologies offers a range of components including geophones, accelerometers, cable and recorder accessories designed to collect high-quality seismic signals in onshore environments.