Geospace Technologies (NASDAQ:GEOS) Releases Earnings Results

Geospace Technologies (NASDAQ:GEOS) issued its earnings results on Thursday. The oil and gas company reported ($0.75) earnings per share (EPS) for the quarter, Zacks reports. Geospace Technologies had a negative return on equity of 24.22% and a negative net margin of 28.86%.

Geospace Technologies Trading Down 7.2%

NASDAQ GEOS opened at $6.82 on Friday. The stock has a market cap of $88.22 million, a PE ratio of -3.00 and a beta of 0.19. Geospace Technologies has a twelve month low of $6.28 and a twelve month high of $29.89. The stock has a fifty day simple moving average of $7.21 and a 200-day simple moving average of $9.77.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Geospace Technologies during the second quarter worth about $51,000. BNP Paribas Financial Markets increased its position 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 valued at $65,000 after acquiring an additional 3,005 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Geospace Technologies in the 4th quarter valued at approximately $67,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Geospace Technologies in the 4th quarter worth approximately $176,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Geospace Technologies in the 4th quarter worth approximately $178,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEOS. Weiss Ratings raised shares of Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Wall Street Zen raised shares of Geospace Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Geospace Technologies currently has an average rating of “Sell”.

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.