Geospace Technologies (NASDAQ:GEOS) Stock Rating Upgraded by StockNews.com

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

Geospace Technologies Stock Up 2.0 %

NASDAQ:GEOS opened at $10.74 on Thursday. The company has a market cap of $136.51 million, a P/E ratio of -19.89 and a beta of 0.62. The firm’s 50 day moving average is $11.35 and its two-hundred day moving average is $10.20. Geospace Technologies has a fifty-two week low of $8.09 and a fifty-two week high of $17.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grace & White Inc. NY raised its holdings in shares of Geospace Technologies by 215.6% in the 2nd quarter. Grace & White Inc. NY now owns 187,344 shares of the oil and gas company’s stock worth $1,682,000 after purchasing an additional 127,974 shares during the period. Bank of New York Mellon Corp purchased a new position in Geospace Technologies in the second quarter valued at approximately $314,000. Rhumbline Advisers lifted its position in 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 in the last quarter. Acadian Asset Management LLC grew its stake in Geospace Technologies by 18.1% during the second quarter. Acadian Asset Management LLC now owns 226,366 shares of the oil and gas company’s stock worth $2,027,000 after buying an additional 34,762 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in shares of Geospace Technologies in the second quarter worth $113,000. 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.