Seaport Global Securities Reaffirms Neutral Rating for Geospace Technologies Corp. (GEOS)
Geospace Technologies Corp. (NASDAQ:GEOS)‘s stock had its “neutral” rating restated by equities researchers at Seaport Global Securities in a research note issued on Thursday.
Separately, Zacks Investment Research cut shares of Geospace Technologies Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th.
Shares of Geospace Technologies Corp. (NASDAQ:GEOS) traded up 6.25% during midday trading on Thursday, hitting $20.74. 26,085 shares of the stock traded hands. The firm’s market capitalization is $276.42 million. The company’s 50-day moving average is $19.14 and its 200 day moving average is $17.71. Geospace Technologies Corp. has a 52 week low of $7.62 and a 52 week high of $22.54.
Geospace Technologies Corp. (NASDAQ:GEOS) last released its quarterly earnings data on Wednesday, November 16th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.46) by $0.48. Geospace Technologies Corp. had a negative net margin of 74.07% and a negative return on equity of 17.20%. The company had revenue of $16.31 million for the quarter, compared to analysts’ expectations of $18.50 million. During the same period in the previous year, the firm earned ($1.03) earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that Geospace Technologies Corp. will post ($1.54) earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEOS. BlackRock Investment Management LLC boosted its stake in shares of Geospace Technologies Corp. by 6.3% in the second quarter. BlackRock Investment Management LLC now owns 59,362 shares of the company’s stock worth $972,000 after buying an additional 3,498 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Geospace Technologies Corp. during the second quarter worth approximately $252,000. Vanguard Group Inc. boosted its stake in shares of Geospace Technologies Corp. by 5.0% in the second quarter. Vanguard Group Inc. now owns 552,187 shares of the company’s stock worth $9,039,000 after buying an additional 26,147 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Geospace Technologies Corp. by 2.7% in the second quarter. Principal Financial Group Inc. now owns 93,786 shares of the company’s stock worth $1,535,000 after buying an additional 2,508 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Geospace Technologies Corp. by 1.2% in the second quarter. Prudential Financial Inc. now owns 31,642 shares of the company’s stock worth $518,000 after buying an additional 360 shares in the last quarter. 86.17% of the stock is owned by hedge funds and other institutional investors.
Geospace Technologies Corp. 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 in two segments: Seismic and Non-Seismic. Its seismic product lines consist of land and marine nodal data acquisition systems, permanent land and seabed reservoir monitoring products and services, geophones and geophone strings, hydrophones, leader wire, connectors, telemetry cables, marine streamer retrieval and steering devices, and various other products.
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