Geospace Technologies (NASDAQ:GEOS) Issues Earnings Results

Geospace Technologies (NASDAQ:GEOS) issued its quarterly earnings results on Thursday. The oil and gas company reported ($0.75) EPS for the quarter, Zacks reports. Geospace Technologies had a negative return on equity of 24.22% and a negative net margin of 28.86%.

Geospace Technologies Trading Down 7.2%

GEOS traded down $0.53 on Thursday, hitting $6.82. 116,720 shares of the stock traded hands, compared to its average volume of 204,176. The business has a fifty day moving average price of $7.24 and a two-hundred day moving average price of $9.89. The firm has a market capitalization of $88.25 million, a PE ratio of -3.00 and a beta of 0.19. Geospace Technologies has a 52 week low of $6.28 and a 52 week high of $29.89.

Institutional Trading of Geospace Technologies

Several institutional investors have recently modified their holdings of GEOS. Raymond James Financial Inc. bought a new stake in shares of Geospace Technologies during the second quarter valued at approximately $51,000. BNP Paribas Financial Markets lifted its position in Geospace Technologies by 670.8% in the third quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 3,005 shares during the period. Kestra Advisory Services LLC bought a new position in Geospace Technologies in the fourth quarter worth $67,000. Charles Schwab Investment Management Inc. bought a new position in Geospace Technologies in the fourth quarter worth $176,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Geospace Technologies during the fourth quarter worth $178,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEOS. Weiss Ratings raised Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Geospace Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.