Geospace Technologies (NASDAQ:GEOS) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a buy rating to a strong-buy rating in a report published on Tuesday.

Geospace Technologies Trading Up 2.3 %

GEOS opened at $12.53 on Tuesday. The company has a market cap of $166.90 million, a price-to-earnings ratio of 6.74 and a beta of 0.78. The stock has a fifty day simple moving average of $12.76 and a two-hundred day simple moving average of $12.87. Geospace Technologies has a 12-month low of $6.60 and a 12-month high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter. Geospace Technologies had a net margin of 17.42% and a return on equity of 18.73%. The company had revenue of $50.03 million during the quarter.

Insider Activity

In related news, SVP Robbin B. Adams sold 2,078 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $12.29, for a total value of $25,538.62. Following the sale, the senior vice president now owns 79,739 shares in the company, valued at approximately $979,992.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 4,240 shares of company stock worth $52,124. Insiders own 6.89% of the company’s stock.

Hedge Funds Weigh In On Geospace Technologies

A number of hedge funds have recently bought and sold shares of GEOS. Mraz Amerine & Associates Inc. raised its holdings in Geospace Technologies by 8.4% in the third quarter. Mraz Amerine & Associates Inc. now owns 25,931 shares of the oil and gas company’s stock worth $336,000 after buying an additional 2,000 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Geospace Technologies by 0.4% during the third quarter. Moors & Cabot Inc. now owns 738,475 shares of the oil and gas company’s stock valued at $9,563,000 after acquiring an additional 2,700 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Geospace Technologies by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 33,410 shares of the oil and gas company’s stock worth $433,000 after acquiring an additional 3,570 shares during the last quarter. Barclays PLC bought a new position in Geospace Technologies in the 3rd quarter valued at approximately $109,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Geospace Technologies during the 3rd quarter valued at $133,000. Institutional investors own 57.15% of the company’s stock.

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.