First Eagle Investment Management LLC Sells 92,591 Shares of Geospace Technologies Corporation $GEOS

First Eagle Investment Management LLC reduced its stake in shares of Geospace Technologies Corporation (NASDAQ:GEOS) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 430,273 shares of the oil and gas company’s stock after selling 92,591 shares during the period. First Eagle Investment Management LLC’s holdings in Geospace Technologies were worth $7,276,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GEOS. Empowered Funds LLC raised its position in 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 worth $376,000 after purchasing an additional 3,969 shares during the last quarter. Glenorchy Capital Ltd raised its position 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 purchasing an additional 1,946 shares during the last quarter. Raymond James Financial Inc. bought a new position in Geospace Technologies during the 2nd quarter worth $51,000. Bank of America Corp DE raised its position in Geospace Technologies by 68.4% during the 2nd quarter. Bank of America Corp DE now owns 13,043 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 5,299 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Geospace Technologies during the 2nd quarter worth $306,000. 57.15% of the stock is owned by institutional investors.

Geospace Technologies Trading Down 7.6%

Shares of Geospace Technologies stock opened at $8.51 on Wednesday. The business has a 50-day moving average price of $10.51 and a two-hundred day moving average price of $15.04. Geospace Technologies Corporation has a 1-year low of $5.51 and a 1-year high of $29.89. The company has a market cap of $110.12 million, a P/E ratio of -3.75 and a beta of 0.20.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on GEOS shares. Wall Street Zen lowered Geospace Technologies from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Geospace Technologies in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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.