Geospace Technologies (NASDAQ:GEOS) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a sell rating in a research note published on Wednesday morning.

Geospace Technologies Stock Down 9.5 %

Geospace Technologies stock opened at $6.03 on Wednesday. The company has a market capitalization of $77.05 million, a PE ratio of -7.27 and a beta of 0.28. The firm’s fifty day moving average is $6.77 and its 200 day moving average is $9.07. Geospace Technologies has a 12-month low of $5.65 and a 12-month high of $13.79.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings data on Thursday, May 8th. The oil and gas company reported ($0.77) earnings per share (EPS) for the quarter. Geospace Technologies had a positive return on equity of 4.61% and a negative net margin of 8.86%.

Hedge Funds Weigh In On Geospace Technologies

Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in Geospace Technologies by 45.0% during the fourth quarter. Bank of America Corp DE now owns 12,191 shares of the oil and gas company’s stock worth $122,000 after buying an additional 3,782 shares during the last quarter. Mariner LLC acquired a new stake in shares of Geospace Technologies in the 4th quarter worth about $127,000. JPMorgan Chase & Co. lifted its position in Geospace Technologies by 148.9% in the 4th quarter. JPMorgan Chase & Co. now owns 13,577 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 8,123 shares in the last quarter. EagleClaw Capital Managment LLC boosted its stake in Geospace Technologies by 24.5% during the 4th quarter. EagleClaw Capital Managment LLC now owns 13,700 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Geospace Technologies by 10.4% during the 4th quarter. Wells Fargo & Company MN now owns 14,646 shares of the oil and gas company’s stock worth $147,000 after purchasing an additional 1,380 shares in the last quarter. 57.15% of the stock is currently owned by institutional investors.

Geospace Technologies Company Profile

Geospace Technologies Corporation designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data in order to locate, characterize, and monitor hydrocarbon producing reservoirs. The company operates through three segments: Oil and Gas Markets, Adjacent Markets, and Emerging Markets.