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

Geospace Technologies (NASDAQ:GEOS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Geospace Technologies Price Performance

NASDAQ:GEOS opened at $11.24 on Thursday. The company has a market capitalization of $145.11 million, a P/E ratio of 14.23 and a beta of 0.63. The business has a fifty day simple moving average of $10.29 and a two-hundred day simple moving average of $10.27. Geospace Technologies has a 1 year low of $8.09 and a 1 year high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly 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.

Institutional Trading of Geospace Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd purchased a new position in Geospace Technologies in the 2nd quarter valued at approximately $113,000. Quadrature Capital Ltd bought a new position in shares of Geospace Technologies in the fourth quarter worth $168,000. LSV Asset Management bought a new position in shares of Geospace Technologies in the first quarter worth $191,000. Rhumbline Advisers grew its position in shares of Geospace Technologies by 2,370.7% in the second quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock valued at $133,000 after purchasing an additional 14,224 shares in the last quarter. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Geospace Technologies during the 1st quarter valued at $215,000. Institutional investors own 57.15% of the company’s stock.

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.