Geospace Technologies (NASDAQ:GEOS) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Geospace Technologies Corporation (NASDAQ:GEOS) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.77 and traded as low as $6.89. Geospace Technologies shares last traded at $7.12, with a volume of 50,036 shares traded.

Wall Street Analysts Forecast Growth

GEOS has been the subject of a number of recent analyst reports. Wall Street Zen raised Geospace Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings raised Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Geospace Technologies Trading Down 0.6%

The firm has a market cap of $91.62 million, a price-to-earnings ratio of -3.12 and a beta of 0.20. The stock’s 50 day moving average is $7.42 and its 200 day moving average is $10.75.

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

Institutional Trading of Geospace Technologies

Several institutional investors have recently added to or reduced their stakes in GEOS. Raymond James Financial Inc. acquired a new position in Geospace Technologies in the 2nd quarter valued at $51,000. BNP Paribas Financial Markets lifted its holdings in shares of Geospace Technologies by 670.8% during the third quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company’s stock worth $65,000 after buying an additional 3,005 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Geospace Technologies in the fourth quarter valued at about $67,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Geospace Technologies in the fourth quarter valued at about $176,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Geospace Technologies in the fourth quarter valued at about $178,000. 57.15% of the stock is currently owned by institutional investors.

About Geospace Technologies

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.