Geospace Technologies (NASDAQ:GEOS) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Geospace Technologies Co. (NASDAQ:GEOS) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.36 and traded as high as $11.58. Geospace Technologies shares last traded at $11.23, with a volume of 60,585 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Geospace Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th.

Geospace Technologies Stock Performance

The company has a market capitalization of $144.98 million, a PE ratio of 14.22 and a beta of 0.63. The business has a fifty day moving average price of $10.10 and a 200 day moving average price of $10.36.

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

Institutional Trading of Geospace Technologies

A number of institutional investors have recently added to or reduced their stakes in GEOS. WINTON GROUP Ltd purchased a new position in Geospace Technologies in the second quarter valued at about $113,000. Rhumbline Advisers raised its holdings in shares of Geospace Technologies by 2,370.7% during the 2nd quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock valued at $133,000 after buying an additional 14,224 shares during the period. Quadrature Capital Ltd acquired a new position in Geospace Technologies during the 4th quarter worth approximately $168,000. LSV Asset Management purchased a new position in Geospace Technologies in the 1st quarter worth approximately $191,000. Finally, Avantax Advisory Services Inc. acquired a new stake in Geospace Technologies in the first quarter valued at approximately $215,000. 57.15% of the stock is 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.