Geospace Technologies (NASDAQ:GEOS) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Geospace Technologies Corporation (NASDAQ:GEOS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Wall Street Analyst Weigh In

GEOS has been the topic of a number of research reports. Wall Street Zen downgraded shares of Geospace Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Geospace Technologies in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Geospace Technologies Price Performance

The company’s 50-day simple moving average is $18.16 and its 200-day simple moving average is $18.04. The stock has a market capitalization of $282.10 million, a P/E ratio of -28.43 and a beta of 0.48.

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

Institutional Investors Weigh In On Geospace Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC grew its stake in shares of Geospace Technologies by 2.7% during the third quarter. First Eagle Investment Management LLC now owns 522,864 shares of the oil and gas company’s stock worth $9,914,000 after buying an additional 13,500 shares during the last quarter. Grace & White Inc. NY increased its holdings in Geospace Technologies by 9.6% in the second quarter. Grace & White Inc. NY now owns 330,321 shares of the oil and gas company’s stock valued at $4,710,000 after purchasing an additional 29,000 shares during the period. Glenorchy Capital Ltd lifted its holdings in Geospace Technologies by 1.0% during the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock worth $2,765,000 after buying an additional 1,946 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Geospace Technologies by 5.4% in the third quarter. Bridgeway Capital Management LLC now owns 138,619 shares of the oil and gas company’s stock valued at $2,628,000 after buying an additional 7,141 shares during the period. Finally, EagleClaw Capital Managment LLC raised its position in shares of Geospace Technologies by 69.2% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 61,150 shares of the oil and gas company’s stock worth $1,159,000 after acquiring an additional 25,000 shares in the last quarter. 57.15% of the stock is owned by institutional investors.

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.