Rhumbline Advisers Purchases 14,224 Shares of Geospace Technologies Co. (NASDAQ:GEOS)

Rhumbline Advisers increased its position in shares of Geospace Technologies Co. (NASDAQ:GEOS) by 2,370.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,824 shares of the oil and gas company’s stock after buying an additional 14,224 shares during the period. Rhumbline Advisers owned 0.11% of Geospace Technologies worth $133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Trexquant Investment LP bought a new position in shares of Geospace Technologies in the 4th quarter worth about $153,000. Quadrature Capital Ltd bought a new stake in Geospace Technologies in the fourth quarter worth approximately $168,000. LSV Asset Management acquired a new position in Geospace Technologies in the first quarter valued at approximately $191,000. Avantax Advisory Services Inc. bought a new position in shares of Geospace Technologies during the 1st quarter worth approximately $215,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Geospace Technologies during the 2nd quarter worth approximately $314,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Geospace Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th.

Geospace Technologies Price Performance

Shares of GEOS opened at $10.34 on Monday. The stock has a 50-day moving average of $9.63 and a 200-day moving average of $10.60. Geospace Technologies Co. has a one year low of $8.09 and a one year high of $17.09. The company has a market cap of $133.49 million, a PE ratio of 8.69 and a beta of 0.63.

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

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.