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

StockNews.com downgraded shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a sell rating in a report published on Saturday.

Geospace Technologies Stock Up 0.5 %

Shares of NASDAQ:GEOS opened at $9.73 on Friday. The firm has a market cap of $125.61 million, a P/E ratio of 8.18 and a beta of 0.63. Geospace Technologies has a 12-month low of $8.09 and a 12-month high of $17.09. The business has a fifty day simple moving average of $9.39 and a 200 day simple moving average of $10.81.

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

Institutional Investors Weigh In On Geospace Technologies

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in Geospace Technologies by 14.8% during the second 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 acquired a new position in shares of Geospace Technologies in the 2nd quarter valued at about $113,000. Acadian Asset Management LLC boosted its position in shares of 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 purchasing an additional 34,762 shares in the last quarter. Rhumbline Advisers grew its stake in Geospace Technologies by 2,370.7% during the second quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock worth $133,000 after purchasing an additional 14,224 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Geospace Technologies in the second quarter worth approximately $314,000. 57.15% of the stock is currently owned by institutional investors and hedge funds.

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.