Geospace Technologies (NASDAQ:GEOS) Downgraded by StockNews.com to “Sell”

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

Geospace Technologies Stock Down 2.0 %

Shares of NASDAQ GEOS traded down $0.22 during midday trading on Thursday, reaching $11.03. 18,856 shares of the company were exchanged, compared to its average volume of 42,143. The stock’s 50-day moving average price is $10.26 and its 200-day moving average price is $10.29. The stock has a market cap of $142.40 million, a P/E ratio of 13.96 and a beta of 0.63. Geospace Technologies has a one year low of $8.09 and a one year high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.16) earnings per share for the quarter. Geospace Technologies had a net margin of 8.28% and a return on equity of 7.68%. The firm had revenue of $25.86 million for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GEOS. Quadrature Capital Ltd acquired a new position in Geospace Technologies in the 4th quarter valued at approximately $168,000. LSV Asset Management bought a new position in Geospace Technologies during the 1st quarter worth $191,000. Avantax Advisory Services Inc. bought a new position in Geospace Technologies during the 1st quarter worth $215,000. Acadian Asset Management LLC lifted its holdings in Geospace Technologies by 11.4% during the 1st quarter. Acadian Asset Management LLC now owns 191,604 shares of the oil and gas company’s stock worth $2,524,000 after buying an additional 19,660 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in shares of Geospace Technologies by 7.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 174,142 shares of the oil and gas company’s stock valued at $2,297,000 after buying an additional 11,900 shares during the last quarter. Institutional investors own 57.15% of the company’s stock.

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.