Geospace Technologies (NASDAQ:GEOS) Rating 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 research report issued to clients and investors on Thursday.

Geospace Technologies Stock Up 1.9 %

NASDAQ GEOS opened at $11.24 on Thursday. Geospace Technologies has a 52 week low of $8.09 and a 52 week high of $17.09. The business has a 50 day moving average price of $10.29 and a 200-day moving average price of $10.27. The company has a market cap of $145.11 million, a price-to-earnings ratio of 14.23 and a beta of 0.63.

Geospace Technologies (NASDAQ:GEOS) last announced 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 for the quarter.

Hedge Funds Weigh In On Geospace Technologies

Hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new position in shares of Geospace Technologies in the second quarter valued at approximately $113,000. Rhumbline Advisers lifted its stake in 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 acquiring an additional 14,224 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Geospace Technologies during the 4th quarter worth $168,000. LSV Asset Management bought a new stake in shares of Geospace Technologies in the 1st quarter worth $191,000. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of Geospace Technologies in the first quarter valued at about $215,000. Institutional investors and hedge funds 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.