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

Geospace Technologies (NASDAQ:GEOS) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Geospace Technologies Stock Down 2.2 %

Geospace Technologies stock opened at $6.11 on Tuesday. The stock has a market cap of $78.07 million, a price-to-earnings ratio of -7.36 and a beta of 0.20. Geospace Technologies has a 12-month low of $5.77 and a 12-month high of $14.15. The business’s 50-day simple moving average is $7.61 and its 200 day simple moving average is $9.62.

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

Institutional Trading of Geospace Technologies

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in shares of Geospace Technologies by 40.7% in the third quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 872 shares in the last quarter. Bank of America Corp DE increased its position in Geospace Technologies by 45.0% during 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 bought a new position in shares of Geospace Technologies during the fourth quarter worth approximately $127,000. JPMorgan Chase & Co. grew its holdings in shares of Geospace Technologies by 148.9% during the 4th quarter. JPMorgan Chase & Co. now owns 13,577 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 8,123 shares in the last quarter. Finally, EagleClaw Capital Managment LLC increased its holdings in Geospace Technologies by 24.5% in the 4th quarter. EagleClaw Capital Managment LLC now owns 13,700 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 2,700 shares during the period. 57.15% of the stock is currently owned by institutional investors and hedge funds.

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.