StockNews.com Upgrades Geospace Technologies (NASDAQ:GEOS) to Hold

Geospace Technologies (NASDAQ:GEOS) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Geospace Technologies Stock Up 9.6 %

Shares of Geospace Technologies stock opened at $13.62 on Wednesday. The firm has a market cap of $175.82 million, a P/E ratio of 17.24 and a beta of 0.62. The business has a 50-day moving average price of $11.23 and a 200 day moving average price of $10.24. Geospace Technologies has a fifty-two week low of $8.09 and a fifty-two week high of $17.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in Geospace Technologies by 40.7% during the third quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 872 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Geospace Technologies in the 2nd quarter worth $113,000. EagleClaw Capital Managment LLC acquired a new stake in Geospace Technologies during the 3rd quarter worth about $114,000. Rhumbline Advisers boosted its holdings 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 worth $133,000 after buying an additional 14,224 shares during the period. Finally, Barclays PLC raised its holdings in shares of Geospace Technologies by 278.2% during the third quarter. Barclays PLC now owns 16,622 shares of the oil and gas company’s stock valued at $172,000 after acquiring an additional 12,227 shares during the period. 57.15% of the stock is currently owned by institutional investors.

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.