Geospace Technologies (NASDAQ:GEOS) Upgraded at StockNews.com

Geospace Technologies (NASDAQ:GEOS) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

Geospace Technologies Trading Down 2.2 %

Shares of Geospace Technologies stock opened at $11.88 on Thursday. The company has a 50 day moving average of $12.77 and a 200-day moving average of $12.85. Geospace Technologies has a 1-year low of $6.60 and a 1-year high of $17.09. The company has a market cap of $158.24 million, a PE ratio of 6.39 and a beta of 0.78.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 earnings per share for the quarter. The company had revenue of $50.03 million during the quarter. Geospace Technologies had a net margin of 17.42% and a return on equity of 18.73%.

Insider Activity at Geospace Technologies

In related news, SVP Robbin B. Adams sold 2,078 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $12.29, for a total value of $25,538.62. Following the completion of the transaction, the senior vice president now owns 79,739 shares of the company’s stock, valued at approximately $979,992.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 4,240 shares of company stock valued at $52,124 in the last quarter. Insiders own 6.89% of the company’s stock.

Hedge Funds Weigh In On Geospace Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mraz Amerine & Associates Inc. lifted its stake in Geospace Technologies by 8.4% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 25,931 shares of the oil and gas company’s stock valued at $336,000 after purchasing an additional 2,000 shares during the last quarter. Moors & Cabot Inc. lifted its stake in Geospace Technologies by 0.4% in the 3rd quarter. Moors & Cabot Inc. now owns 738,475 shares of the oil and gas company’s stock valued at $9,563,000 after purchasing an additional 2,700 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Geospace Technologies by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 33,410 shares of the oil and gas company’s stock valued at $433,000 after purchasing an additional 3,570 shares during the last quarter. Barclays PLC bought a new position in shares of Geospace Technologies during the third quarter valued at $109,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Geospace Technologies during the third quarter valued at $133,000. Institutional investors own 57.15% of the company’s stock.

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.