Bank of America Corp DE Raises Holdings in Geospace Technologies Co. (NASDAQ:GEOS)

Bank of America Corp DE boosted its stake in shares of Geospace Technologies Co. (NASDAQ:GEOS) by 45.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,191 shares of the oil and gas company’s stock after acquiring an additional 3,782 shares during the quarter. Bank of America Corp DE owned 0.10% of Geospace Technologies worth $122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Tieton Capital Management LLC boosted its holdings in 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 valued at $8,846,000 after acquiring an additional 161,905 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Geospace Technologies by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 649,933 shares of the oil and gas company’s stock worth $6,512,000 after buying an additional 22,584 shares during the period. First Eagle Investment Management LLC lifted its holdings in Geospace Technologies by 1,200.2% in 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 period. Empowered Funds LLC lifted its holdings in Geospace Technologies by 4.9% in the 4th quarter. Empowered Funds LLC now owns 48,238 shares of the oil and gas company’s stock worth $483,000 after buying an additional 2,236 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Geospace Technologies by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 26,558 shares of the oil and gas company’s stock worth $266,000 after buying an additional 1,739 shares during the period. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Geospace Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 16th.

Geospace Technologies Stock Up 0.1%

GEOS opened at $6.89 on Tuesday. The stock has a market cap of $88.24 million, a PE ratio of -8.30 and a beta of 0.17. The business has a 50 day moving average of $6.29 and a 200-day moving average of $7.98. Geospace Technologies Co. has a 52 week low of $5.51 and a 52 week high of $13.79.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings data on Thursday, May 8th. The oil and gas company reported ($0.77) earnings per share for the quarter. Geospace Technologies had a negative net margin of 8.86% and a positive return on equity of 4.61%.

Geospace Technologies 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.