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 Monday.

Geospace Technologies Price Performance

Shares of NASDAQ:GEOS opened at $10.26 on Monday. The firm has a market capitalization of $132.46 million, a PE ratio of 8.62 and a beta of 0.63. Geospace Technologies has a 12 month low of $8.09 and a 12 month high of $17.09. The business has a 50-day moving average of $9.71 and a two-hundred day moving average of $10.55.

Geospace Technologies (NASDAQ:GEOS) last posted its earnings results on Thursday, August 8th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter. The business 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%.

Hedge Funds Weigh In On Geospace Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd acquired a new stake in Geospace Technologies in the 2nd quarter valued at $113,000. Rhumbline Advisers grew its stake in shares of Geospace Technologies by 2,370.7% in 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. Trexquant Investment LP purchased a new stake in shares of Geospace Technologies during the 4th quarter valued at about $153,000. Quadrature Capital Ltd purchased a new stake in shares of Geospace Technologies during the 4th quarter valued at about $168,000. Finally, LSV Asset Management purchased a new stake in shares of Geospace Technologies during the first quarter valued at approximately $191,000. 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.