Geospace Technologies (NASDAQ:GEOS) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a sell rating in a research report released on Monday morning.

Geospace Technologies Stock Up 10.0 %

GEOS stock opened at $6.61 on Monday. Geospace Technologies has a 52 week low of $5.77 and a 52 week high of $14.15. The firm has a market capitalization of $84.46 million, a P/E ratio of -7.96 and a beta of 0.20. The company has a fifty day simple moving average of $7.79 and a two-hundred day simple moving average of $9.71.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Geospace Technologies had a positive return on equity of 4.61% and a negative net margin of 8.86%.

Institutional Trading of Geospace Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in Geospace Technologies by 40.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 872 shares during the period. Bank of America Corp DE increased its stake in Geospace Technologies by 45.0% in the 4th quarter. Bank of America Corp DE now owns 12,191 shares of the oil and gas company’s stock worth $122,000 after buying an additional 3,782 shares during the period. Mariner LLC purchased a new stake in Geospace Technologies in the 4th quarter valued at about $127,000. JPMorgan Chase & Co. grew its stake in Geospace Technologies by 148.9% in the 4th quarter. JPMorgan Chase & Co. now owns 13,577 shares of the oil and gas company’s stock worth $136,000 after acquiring an additional 8,123 shares in the last quarter. Finally, EagleClaw Capital Managment LLC increased its position in shares of Geospace Technologies by 24.5% during the fourth quarter. EagleClaw Capital Managment LLC now owns 13,700 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 2,700 shares during the period. 57.15% of the stock is 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.