StockNews.com Downgrades Geospace Technologies (NASDAQ:GEOS) to Sell

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

Geospace Technologies Stock Performance

Shares of GEOS stock opened at $6.18 on Friday. The business’s fifty day moving average is $6.65 and its 200-day moving average is $8.88. The stock has a market cap of $79.15 million, a PE ratio of -7.45 and a beta of 0.28. Geospace Technologies has a 1 year low of $5.65 and a 1 year high of $13.79.

Geospace Technologies (NASDAQ:GEOS) last released its earnings results on Thursday, May 8th. The oil and gas company reported ($0.77) 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%.

Hedge Funds Weigh In On Geospace Technologies

A number of large investors have recently modified their holdings of GEOS. First Eagle Investment Management LLC boosted its stake in shares of Geospace Technologies by 1,200.2% during the 4th quarter. First Eagle Investment Management LLC now owns 283,321 shares of the oil and gas company’s stock worth $2,839,000 after buying an additional 261,530 shares during the last quarter. Peapod Lane Capital LLC acquired a new position in shares of Geospace Technologies during the 4th quarter worth about $2,542,000. Tieton Capital Management LLC boosted its stake in shares of Geospace Technologies by 22.5% during the 4th quarter. Tieton Capital Management LLC now owns 882,797 shares of the oil and gas company’s stock worth $8,846,000 after buying an additional 161,905 shares during the last quarter. Grace & White Inc. NY boosted its stake in shares of Geospace Technologies by 39.4% during the 1st quarter. Grace & White Inc. NY now owns 301,321 shares of the oil and gas company’s stock worth $2,173,000 after buying an additional 85,225 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Geospace Technologies by 74.6% during the 1st quarter. US Bancorp DE now owns 124,034 shares of the oil and gas company’s stock worth $894,000 after buying an additional 53,001 shares during the last quarter. 57.15% of the stock is currently owned by institutional investors and hedge funds.

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.