Geospace Technologies (NASDAQ:GEOS) Issues Quarterly Earnings Results

Geospace Technologies (NASDAQ:GEOS) posted its earnings results on Thursday. The oil and gas company reported ($0.86) earnings per share for the quarter, FiscalAI reports. Geospace Technologies had a negative return on equity of 21.91% and a negative net margin of 28.10%.The company had revenue of $19.74 million during the quarter.

Geospace Technologies Stock Down 8.9%

NASDAQ GEOS traded down $0.83 during trading on Thursday, hitting $8.50. The company’s stock had a trading volume of 451,131 shares, compared to its average volume of 238,449. The firm has a 50 day moving average price of $10.54 and a 200 day moving average price of $15.35. The firm has a market cap of $109.55 million, a P/E ratio of -3.90 and a beta of 0.20. Geospace Technologies has a 52 week low of $5.51 and a 52 week high of $29.89.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GEOS. Empowered Funds LLC increased its position in Geospace Technologies by 8.2% in the 1st quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock worth $376,000 after buying an additional 3,969 shares during the period. Glenorchy Capital Ltd increased its position in shares of Geospace Technologies by 1.0% during the second quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock valued at $2,765,000 after purchasing an additional 1,946 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Geospace Technologies during the second quarter valued at approximately $51,000. Bank of America Corp DE increased its position in shares of Geospace Technologies by 68.4% during the second quarter. Bank of America Corp DE now owns 13,043 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 5,299 shares during the period. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Geospace Technologies during the second quarter valued at approximately $306,000. 57.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Geospace Technologies in a report on Friday, March 27th. Wall Street Zen downgraded Geospace Technologies from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Geospace Technologies

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.