CGG (CGG) Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of CGG (NYSE:CGG) from a buy rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “CGG operates as a Geoscience company. It provides geophysical services and software products and manufactures geophysical equipment. The Company primarily operates in the Americas, Asia-Pacific, Europe, the former Soviet Union, and Africa. CGG is based in France. “
Separately, ValuEngine downgraded CGG from a sell rating to a strong sell rating in a research note on Friday, June 2nd.
Shares of CGG (CGG) opened at 4.47 on Thursday. CGG has a 12-month low of $4.37 and a 12-month high of $29.70. The firm’s market cap is $98.93 million. The stock’s 50 day moving average price is $5.95 and its 200-day moving average price is $8.94.
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An institutional investor recently raised its position in CGG stock. Morgan Stanley boosted its stake in CGG (NYSE:CGG) by 25.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,501 shares of the oil and gas company’s stock after buying an additional 3,800 shares during the period. Morgan Stanley owned approximately 0.08% of CGG worth $130,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 0.87% of the company’s stock.
CGG Company Profile
CGG SA (CGG) is a manufacturer of geophysical equipment. The Company provides marine, land and airborne data acquisition services, as well as a range of other geoscience services, including data imaging, geoscience and petroleum engineering consulting services, and collecting, developing and licensing geological data.
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