Grace & White Inc. NY Has $5.77 Million Stake in Geospace Technologies Corporation $GEOS

Grace & White Inc. NY boosted its stake in Geospace Technologies Corporation (NASDAQ:GEOS) by 53.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 473,201 shares of the oil and gas company’s stock after acquiring an additional 165,406 shares during the quarter. Grace & White Inc. NY’s holdings in Geospace Technologies were worth $5,773,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEOS. Empowered Funds LLC raised its stake in shares of Geospace Technologies by 8.2% in the 1st quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock valued at $376,000 after purchasing an additional 3,969 shares during the period. Glenorchy Capital Ltd lifted its holdings in shares of Geospace Technologies by 1.0% in the second quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock valued at $2,765,000 after purchasing an additional 1,946 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Geospace Technologies during the second quarter worth about $51,000. Bank of America Corp DE grew its holdings in shares of Geospace Technologies by 68.4% during the second quarter. Bank of America Corp DE now owns 13,043 shares of the oil and gas company’s stock worth $186,000 after buying an additional 5,299 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in shares of Geospace Technologies during the second quarter worth about $306,000. 57.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GEOS shares. Weiss Ratings upgraded Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Wall Street Zen upgraded shares of Geospace Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Geospace Technologies Price Performance

Geospace Technologies stock opened at $6.38 on Friday. The company has a market cap of $82.56 million, a price-to-earnings ratio of -2.81 and a beta of 0.16. The firm has a 50-day moving average of $8.31 and a 200-day moving average of $12.05. Geospace Technologies Corporation has a one year low of $6.31 and a one year high of $29.89.

Geospace Technologies (NASDAQ:GEOS) last released its earnings results on Thursday, May 7th. The oil and gas company reported ($0.86) earnings per share (EPS) for the quarter. Geospace Technologies had a negative net margin of 28.86% and a negative return on equity of 24.22%. The company had revenue of $19.74 million during the quarter.

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.