Moors & Cabot Inc. Reduces Stock Holdings in Geospace Technologies Corporation $GEOS

Moors & Cabot Inc. reduced its position in Geospace Technologies Corporation (NASDAQ:GEOS) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 764,600 shares of the oil and gas company’s stock after selling 21,300 shares during the quarter. Moors & Cabot Inc. owned approximately 0.06% of Geospace Technologies worth $10,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. US Bancorp DE grew its stake in shares of Geospace Technologies by 74.6% during the 1st quarter. US Bancorp DE now owns 124,034 shares of the oil and gas company’s stock worth $894,000 after acquiring an additional 53,001 shares during the period. Strs Ohio bought a new stake in Geospace Technologies in the 1st quarter valued at about $367,000. Grace & White Inc. NY raised its stake in Geospace Technologies by 9.6% in the 2nd quarter. Grace & White Inc. NY now owns 330,321 shares of the oil and gas company’s stock valued at $4,710,000 after acquiring an additional 29,000 shares during the period. EagleClaw Capital Managment LLC boosted its position in Geospace Technologies by 193.1% during the first quarter. EagleClaw Capital Managment LLC now owns 40,150 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 26,450 shares during the period. Finally, Peapod Lane Capital LLC increased its stake in shares of Geospace Technologies by 10.4% in the first quarter. Peapod Lane Capital LLC now owns 280,051 shares of the oil and gas company’s stock worth $2,019,000 after purchasing an additional 26,399 shares in the last quarter. 57.15% of the stock is currently owned by institutional investors.

Geospace Technologies Price Performance

Shares of GEOS opened at $25.99 on Wednesday. Geospace Technologies Corporation has a 1 year low of $5.51 and a 1 year high of $29.89. The stock has a 50 day simple moving average of $21.18 and a two-hundred day simple moving average of $14.48. The firm has a market cap of $333.22 million, a P/E ratio of -24.52 and a beta of 0.66.

Geospace Technologies (NASDAQ:GEOS) last released its earnings results on Thursday, August 7th. The oil and gas company reported $0.06 earnings per share for the quarter. Geospace Technologies had a positive return on equity of 2.77% and a negative net margin of 11.70%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GEOS. Weiss Ratings restated a “sell (d+)” rating on shares of Geospace Technologies in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Geospace Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

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.