Geospace Technologies (NASDAQ:GEOS) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Geospace Technologies Corporation (NASDAQ:GEOS) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $18.03 and traded as high as $22.35. Geospace Technologies shares last traded at $21.89, with a volume of 308,296 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on GEOS shares. Wall Street Zen cut shares of Geospace Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Geospace Technologies in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Geospace Technologies Stock Up 7.8%

The company has a market capitalization of $282.16 million, a price-to-earnings ratio of -28.43 and a beta of 0.48. The stock has a 50 day simple moving average of $18.16 and a 200 day simple moving average of $18.03.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings results on Thursday, November 20th. The oil and gas company reported ($0.71) earnings per share (EPS) for the quarter. Geospace Technologies had a negative return on equity of 7.26% and a negative net margin of 8.78%.The business had revenue of $30.71 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its stake in shares of Geospace Technologies by 8.9% during the second quarter. First Eagle Investment Management LLC now owns 509,364 shares of the oil and gas company’s stock valued at $7,264,000 after purchasing an additional 41,477 shares during the period. Grace & White Inc. NY increased its stake in Geospace Technologies by 9.6% in the 2nd quarter. Grace & White Inc. NY now owns 330,321 shares of the oil and gas company’s stock worth $4,710,000 after buying an additional 29,000 shares during the period. Strs Ohio bought a new stake in Geospace Technologies during the 1st quarter valued at about $367,000. Y Intercept Hong Kong Ltd purchased a new stake in Geospace Technologies in the 2nd quarter valued at about $288,000. Finally, ARS Wealth Advisors Group LLC bought a new position in Geospace Technologies in the 2nd quarter worth about $179,000. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Geospace Technologies Company Profile

Geospace Technologies Corporation specializes in the design, manufacturing and marketing of geophysical instrumentation for seismic data acquisition. The company’s solutions address the needs of oil and gas exploration and production companies by enabling detailed subsurface imaging through advanced sensor and acquisition systems. Geospace serves both land and marine seismic markets, offering equipment that meets the rigorous demands of contemporary seismic surveys.

In its Land Products segment, Geospace Technologies offers a range of components including geophones, accelerometers, cable and recorder accessories designed to collect high-quality seismic signals in onshore environments.