Geospace Technologies (NASDAQ:GEOS) Upgraded 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 research note published on Tuesday morning.

Geospace Technologies Price Performance

NASDAQ GEOS opened at $12.53 on Tuesday. The business’s fifty day moving average is $12.76 and its 200-day moving average is $12.87. The stock has a market capitalization of $166.90 million, a price-to-earnings ratio of 6.74 and a beta of 0.78. Geospace Technologies has a one year low of $6.60 and a one year high of $17.09.

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

Insider Activity at Geospace Technologies

In other Geospace Technologies news, SVP Robbin B. Adams sold 2,078 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 79,739 shares of the company’s stock, valued at $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 quarter, insiders have 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

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake 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 valued at $433,000 after buying an additional 3,570 shares in the last quarter. Barclays PLC bought a new position in shares of Geospace Technologies in the third quarter worth $109,000. Moors & Cabot Inc. grew its position in shares of Geospace Technologies by 0.4% in 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 purchasing an additional 2,700 shares in the last quarter. Mraz Amerine & Associates Inc. raised its stake in shares of Geospace Technologies by 8.4% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 25,931 shares of the oil and gas company’s stock valued at $336,000 after purchasing an additional 2,000 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Geospace Technologies by 27.0% during the 3rd quarter. Acadian Asset Management LLC now owns 92,855 shares of the oil and gas company’s stock worth $1,201,000 after purchasing an additional 19,764 shares in the last quarter. Hedge funds and other 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.