Geospace Technologies (NASDAQ:GEOS) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a buy rating to a strong-buy rating in a research note published on Tuesday.

Geospace Technologies Price Performance

Shares of GEOS opened at $12.64 on Tuesday. Geospace Technologies has a one year low of $6.60 and a one year high of $17.09. The company has a 50-day simple moving average of $12.79 and a two-hundred day simple moving average of $12.87. The firm has a market capitalization of $168.36 million, a PE ratio of 6.80 and a beta of 0.78.

Geospace Technologies (NASDAQ:GEOS) last released its 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 firm had revenue of $50.03 million during the quarter.

Insider Transactions at Geospace Technologies

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 stock was sold at an average price of $12.29, for a total value of $25,538.62. Following the sale, the senior vice president now directly owns 79,739 shares of the company’s stock, valued at approximately $979,992.31. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 4,240 shares of company stock valued at $52,124 in the last ninety days. 6.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Geospace Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEOS. Barclays PLC bought a new position in Geospace Technologies in the 3rd quarter valued at approximately $109,000. O Shaughnessy Asset Management LLC bought a new position in Geospace Technologies in the 3rd quarter valued at approximately $133,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Geospace Technologies in the 3rd quarter valued at approximately $143,000. Citigroup Inc. bought a new position in Geospace Technologies in the 3rd quarter valued at approximately $153,000. Finally, Trexquant Investment LP bought a new position in Geospace Technologies in the 4th quarter valued at approximately $153,000. 57.15% of the stock is 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.