Robotti Robert Makes New $870,000 Investment in Geospace Technologies Corporation $GEOS

Robotti Robert purchased a new position in Geospace Technologies Corporation (NASDAQ:GEOS) during the second quarter, HoldingsChannel.com reports. The fund purchased 128,436 shares of the oil and gas company’s stock, valued at approximately $870,000.

Several other hedge funds and other institutional investors have also modified their holdings of GEOS. BlackRock Inc. bought a new stake in shares of Geospace Technologies during the 2nd quarter valued at about $1,569,000. GSA Capital Partners LLP bought a new position in Geospace Technologies in the second quarter worth about $105,000. Bank of America Corp DE boosted its stake in Geospace Technologies by 23.2% in the first quarter. Bank of America Corp DE now owns 18,060 shares of the oil and gas company’s stock valued at $220,000 after acquiring an additional 3,395 shares during the period. Sei Investments Co. grew its holdings in shares of Geospace Technologies by 108.6% during the first quarter. Sei Investments Co. now owns 410,906 shares of the oil and gas company’s stock valued at $5,013,000 after purchasing an additional 213,950 shares during the last quarter. Finally, Grace & White Inc. NY grew its holdings in shares of Geospace Technologies by 53.7% during the first quarter. Grace & White Inc. NY now owns 473,201 shares of the oil and gas company’s stock valued at $5,773,000 after purchasing an additional 165,406 shares during the last quarter. 57.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GEOS shares. Weiss Ratings raised Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Wall Street Zen downgraded Geospace Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Geospace Technologies Trading Up 3.1%

Shares of NASDAQ:GEOS opened at $5.95 on Wednesday. The firm’s 50 day moving average is $6.78 and its two-hundred day moving average is $8.97. The firm has a market capitalization of $76.99 million, a P/E ratio of -1.93 and a beta of 0.19. Geospace Technologies Corporation has a 52 week low of $5.05 and a 52 week high of $29.89.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($0.75) earnings per share (EPS) for the quarter. Geospace Technologies had a negative return on equity of 35.80% and a negative net margin of 43.10%.The business had revenue of $15.80 million for the quarter.

Geospace Technologies Company Profile

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.