Geospace Technologies Corporation $GEOS Shares Acquired by Grace & White Inc. NY

Grace & White Inc. NY lifted its holdings in shares of Geospace Technologies Corporation (NASDAQ:GEOS) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,321 shares of the oil and gas company’s stock after acquiring an additional 29,000 shares during the quarter. Grace & White Inc. NY’s holdings in Geospace Technologies were worth $4,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of Geospace Technologies by 45.0% during the 4th quarter. Bank of America Corp DE now owns 12,191 shares of the oil and gas company’s stock valued at $122,000 after acquiring an additional 3,782 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Geospace Technologies by 8.2% during the 1st quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock valued at $376,000 after acquiring an additional 3,969 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Geospace Technologies by 15.2% in the 1st quarter. Bank of New York Mellon Corp now owns 30,601 shares of the oil and gas company’s stock worth $221,000 after buying an additional 4,043 shares in the last quarter. ARS Wealth Advisors Group LLC acquired a new position in Geospace Technologies in the 2nd quarter worth $179,000. Finally, Nuveen LLC acquired a new position in Geospace Technologies in the 1st quarter worth $120,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

Wall Street Analyst Weigh In

GEOS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Geospace Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Geospace Technologies in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Geospace Technologies Stock Performance

GEOS opened at $22.65 on Friday. The company has a 50-day moving average of $18.60 and a 200-day moving average of $12.20. The company has a market capitalization of $290.37 million, a P/E ratio of -21.37 and a beta of 0.66. Geospace Technologies Corporation has a 1-year low of $5.51 and a 1-year high of $24.00.

Geospace Technologies (NASDAQ:GEOS) last released its earnings results on Thursday, August 7th. The oil and gas company reported $0.06 earnings per share for the quarter. Geospace Technologies had a negative net margin of 11.70% and a positive return on equity of 2.77%.

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.