Geospace Technologies (NASDAQ:GEOS) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a buy rating to a strong-buy rating in a report released on Tuesday morning.

Geospace Technologies Price Performance

NASDAQ GEOS opened at $12.52 on Tuesday. The stock’s 50 day simple moving average is $12.77 and its 200 day simple moving average is $12.87. The firm has a market cap of $166.77 million, a PE ratio of 6.73 and a beta of 0.78. Geospace Technologies has a one year low of $6.60 and a one year high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter. The business had revenue of $50.03 million for the quarter. Geospace Technologies had a net margin of 17.42% and a return on equity of 18.73%.

Insider Buying and Selling at Geospace Technologies

In other news, SVP Robbin B. Adams sold 2,078 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $12.29, for a total transaction of $25,538.62. Following the transaction, the senior vice president now owns 79,739 shares of the company’s stock, valued at $979,992.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 4,240 shares of company stock worth $52,124. Insiders own 6.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in Geospace Technologies by 12.0% in the third quarter. Victory Capital Management Inc. now owns 33,410 shares of the oil and gas company’s stock valued at $433,000 after buying an additional 3,570 shares during the period. Barclays PLC bought a new position in shares of Geospace Technologies in the 3rd quarter valued at about $109,000. Moors & Cabot Inc. raised its stake in shares of Geospace Technologies by 0.4% during the 3rd quarter. Moors & Cabot Inc. now owns 738,475 shares of the oil and gas company’s stock worth $9,563,000 after purchasing an additional 2,700 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its stake in Geospace Technologies by 8.4% in the third quarter. Mraz Amerine & Associates Inc. now owns 25,931 shares of the oil and gas company’s stock valued at $336,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Geospace Technologies by 27.0% in the third quarter. Acadian Asset Management LLC now owns 92,855 shares of the oil and gas company’s stock valued at $1,201,000 after buying an additional 19,764 shares during the last quarter. 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.