Geospace Technologies (NASDAQ:GEOS) Upgraded to “Hold” by StockNews.com

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

Geospace Technologies Stock Performance

Shares of NASDAQ GEOS remained flat at $10.34 during mid-day trading on Monday. The stock had a trading volume of 33,934 shares, compared to its average volume of 89,836. The company’s fifty day moving average is $9.63 and its two-hundred day moving average is $10.59. Geospace Technologies has a fifty-two week low of $8.09 and a fifty-two week high of $17.09. The stock has a market cap of $138.16 million, a PE ratio of 8.69 and a beta of 0.63.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Gate City Capital Management LLC bought a new position in Geospace Technologies in the 4th quarter worth approximately $4,270,000. G2 Investment Partners Management LLC bought a new stake in Geospace Technologies during the 4th quarter worth about $5,297,000. LSV Asset Management acquired a new position in Geospace Technologies during the 1st quarter valued at about $191,000. Acadian Asset Management LLC boosted its stake in shares of Geospace Technologies by 11.4% in the 1st quarter. Acadian Asset Management LLC now owns 191,604 shares of the oil and gas company’s stock valued at $2,524,000 after purchasing an additional 19,660 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Geospace Technologies by 69.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 69,558 shares of the oil and gas company’s stock worth $917,000 after buying an additional 28,539 shares during the period. 57.15% of the stock is 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.