Geospace Technologies (NASDAQ:GEOS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Geospace Technologies Stock Up 1.3 %

Shares of GEOS opened at $10.48 on Wednesday. Geospace Technologies has a 52 week low of $8.09 and a 52 week high of $17.09. The stock has a market cap of $135.30 million, a P/E ratio of 13.27 and a beta of 0.63. The business’s 50 day moving average price is $9.84 and its 200-day moving average price is $10.47.

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

Hedge Funds Weigh In On Geospace Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new stake in shares of Geospace Technologies in the 2nd quarter worth $113,000. Rhumbline Advisers boosted its position in shares of Geospace Technologies by 2,370.7% during the second quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock valued at $133,000 after buying an additional 14,224 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Geospace Technologies in the 4th quarter worth about $168,000. LSV Asset Management purchased a new position in Geospace Technologies in the 1st quarter worth about $191,000. Finally, Avantax Advisory Services Inc. bought a new position in Geospace Technologies during the 1st quarter valued at about $215,000. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

Geospace Technologies Company Profile

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.