Geospace Technologies (NASDAQ:GEOS) Stock Rating Upgraded by StockNews.com

Geospace Technologies (NASDAQ:GEOS) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Geospace Technologies Price Performance

NASDAQ GEOS opened at $12.48 on Tuesday. Geospace Technologies has a 12 month low of $6.60 and a 12 month high of $17.09. The company’s 50 day simple moving average is $12.76 and its 200 day simple moving average is $12.87. The company has a market capitalization of $166.20 million, a P/E ratio of 6.71 and a beta of 0.78.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter. Geospace Technologies had a net margin of 17.42% and a return on equity of 18.73%. The business had revenue of $50.03 million for the quarter.

Insider Activity

In other news, SVP Robbin B. Adams sold 2,078 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $12.29, for a total transaction of $25,538.62. Following the sale, the senior vice president now owns 79,739 shares in the company, valued at $979,992.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 4,240 shares of company stock worth $52,124 over the last 90 days. 6.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mraz Amerine & Associates Inc. grew its position in Geospace Technologies by 8.4% during the third quarter. Mraz Amerine & Associates Inc. now owns 25,931 shares of the oil and gas company’s stock valued at $336,000 after purchasing an additional 2,000 shares in the last quarter. Moors & Cabot Inc. grew its position in Geospace Technologies by 0.4% in the third quarter. Moors & Cabot Inc. now owns 738,475 shares of the oil and gas company’s stock worth $9,563,000 after acquiring an additional 2,700 shares in the last quarter. Victory Capital Management Inc. grew its position in Geospace Technologies by 12.0% in the third quarter. Victory Capital Management Inc. now owns 33,410 shares of the oil and gas company’s stock worth $433,000 after acquiring an additional 3,570 shares in the last quarter. Barclays PLC bought a new stake in Geospace Technologies in the third quarter worth approximately $109,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Geospace Technologies in the third quarter worth approximately $133,000. 57.15% of the stock is owned by hedge funds and other institutional investors.

About Geospace Technologies

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.