ValuEngine upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a buy rating in a research report report published on Saturday, ValuEngine reports.

Shares of GEOS opened at $14.92 on Friday. The stock has a 50-day moving average of $16.16 and a 200-day moving average of $14.89. The company has a market cap of $212.30 million, a PE ratio of -497.17 and a beta of 1.95. Geospace Technologies has a one year low of $11.61 and a one year high of $17.66.

Geospace Technologies (NASDAQ:GEOS) last issued its earnings results on Thursday, November 21st. The oil and gas company reported ($0.04) EPS for the quarter. The firm had revenue of $28.94 million during the quarter. Geospace Technologies had a negative net margin of 0.15% and a negative return on equity of 5.38%.

In other news, EVP Robbin B. Adams sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $14.58, for a total value of $87,480.00. Company insiders own 4.01% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in Geospace Technologies by 47.2% in the 2nd quarter. BlackRock Inc. now owns 1,935,637 shares of the oil and gas company’s stock valued at $29,248,000 after acquiring an additional 620,776 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Geospace Technologies by 0.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 905,777 shares of the oil and gas company’s stock valued at $13,922,000 after acquiring an additional 3,360 shares in the last quarter. Vanguard Group Inc. lifted its position in Geospace Technologies by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 780,702 shares of the oil and gas company’s stock valued at $11,797,000 after acquiring an additional 9,238 shares in the last quarter. State Street Corp lifted its position in Geospace Technologies by 13.7% in the 3rd quarter. State Street Corp now owns 334,126 shares of the oil and gas company’s stock valued at $5,136,000 after acquiring an additional 40,299 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Geospace Technologies by 35.5% in the 2nd quarter. Renaissance Technologies LLC now owns 200,134 shares of the oil and gas company’s stock valued at $3,024,000 after acquiring an additional 52,400 shares in the last quarter. Institutional investors own 67.81% of the company’s stock.

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.

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