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

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a buy rating to a strong-buy rating in a report released on Thursday.

Geospace Technologies Trading Down 0.2 %

Geospace Technologies stock traded down $0.03 during trading hours on Thursday, reaching $12.60. 38,852 shares of the company were exchanged, compared to its average volume of 52,264. Geospace Technologies has a 12 month low of $6.60 and a 12 month high of $17.09. The firm has a market cap of $167.83 million, a price-to-earnings ratio of 6.77 and a beta of 0.80. The stock has a 50-day moving average of $12.78 and a 200 day moving average of $12.84.

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. The company had revenue of $50.03 million during the quarter. Geospace Technologies had a net margin of 17.42% and a return on equity of 18.73%.

Insider Transactions at Geospace Technologies

In other news, SVP Robbin B. Adams sold 2,078 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $12.29, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 4,240 shares of company stock worth $52,124 over the last three months. 6.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Geospace Technologies

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