Geospace Technologies Corporation $GEOS Shares Bought by Sei Investments Co.

Sei Investments Co. grew its holdings in Geospace Technologies Corporation (NASDAQ:GEOS) by 108.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 410,906 shares of the oil and gas company’s stock after purchasing an additional 213,950 shares during the quarter. Sei Investments Co.’s holdings in Geospace Technologies were worth $5,013,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GEOS. Glenorchy Capital Ltd raised its position in shares of Geospace Technologies by 1.0% during the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock worth $2,765,000 after purchasing an additional 1,946 shares during the last quarter. De Lisle Partners LLP grew its holdings in Geospace Technologies by 2.0% during the 4th quarter. De Lisle Partners LLP now owns 147,133 shares of the oil and gas company’s stock valued at $2,482,000 after buying an additional 2,899 shares during the last quarter. BNP Paribas Financial Markets increased its position in Geospace Technologies by 670.8% during the third quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company’s stock worth $65,000 after buying an additional 3,005 shares in the last quarter. Geode Capital Management LLC increased its position in Geospace Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 146,107 shares of the oil and gas company’s stock worth $2,472,000 after buying an additional 3,507 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Geospace Technologies in the second quarter worth $51,000. 57.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Geospace Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Geospace Technologies Stock Performance

Shares of NASDAQ GEOS opened at $7.31 on Wednesday. The firm has a market cap of $94.59 million, a P/E ratio of -3.22 and a beta of 0.19. Geospace Technologies Corporation has a 1 year low of $6.28 and a 1 year high of $29.89. The firm’s 50 day moving average price is $7.27 and its 200 day moving average price is $10.00.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas company reported ($0.86) earnings per share for the quarter. Geospace Technologies had a negative net margin of 28.86% and a negative return on equity of 24.22%. The business had revenue of $19.74 million during the quarter.

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.