Geospace Technologies Corp. (NASDAQ:GEOS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Geospace Technologies Corporation is engaged in the designing and manufacturing of scientific instrumentation and equipment used in the acquisition and processing of seismic data, as well as in the characterization and monitoring of producing oil and gas reservoirs. The Company also manufactures and distributes thermal imaging equipment and dry thermal film products. Geospace’s seismic products consist of land and marine nodal seismic data acquisition systems; multi-component geophones and hydrophones; seismic leader wires; geophone string and acquisition system connectors; seismic telemetry cables; marine seismic cable retrieval and steering devices; and data acquisition systems. It also designs and manufactures non-seismic products, including industrial products, offshore cables, thermal printing equipment and film. Geospace Technologies Corporation, formerly known as OYO Geospace Corporation, is headquartered in Houston, Texas. “
Shares of Geospace Technologies Corp. (NASDAQ:GEOS) traded up 0.34% during midday trading on Tuesday, reaching $17.46. The company had a trading volume of 41,354 shares. The company’s market capitalization is $232.71 million. Geospace Technologies Corp. has a one year low of $7.62 and a one year high of $20.62. The company has a 50-day moving average price of $18.26 and a 200 day moving average price of $16.99.
Geospace Technologies Corp. (NASDAQ:GEOS) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by $0.32. Geospace Technologies Corp. had a negative return on equity of 16.59% and a negative net margin of 76.29%. The company had revenue of $17.70 million for the quarter, compared to the consensus estimate of $15.05 million. During the same quarter in the previous year, the business earned ($0.66) earnings per share. Geospace Technologies Corp.’s revenue was down 10.2% compared to the same quarter last year. Equities analysts anticipate that Geospace Technologies Corp. will post ($2.41) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. boosted its stake in Geospace Technologies Corp. by 3.3% in the first quarter. Prudential Financial Inc. now owns 31,282 shares of the company’s stock valued at $386,000 after buying an additional 1,000 shares during the period. Geode Capital Management LLC boosted its stake in Geospace Technologies Corp. by 15.0% in the first quarter. Geode Capital Management LLC now owns 98,827 shares of the company’s stock valued at $1,219,000 after buying an additional 12,921 shares during the period. Capital One National Association acquired a new stake in Geospace Technologies Corp. during the second quarter valued at $349,000. Perkins Capital Management Inc. boosted its stake in Geospace Technologies Corp. by 11.0% in the second quarter. Perkins Capital Management Inc. now owns 30,150 shares of the company’s stock valued at $494,000 after buying an additional 3,000 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Geospace Technologies Corp. by 0.6% in the second quarter. New York State Teachers Retirement System now owns 16,952 shares of the company’s stock valued at $278,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.
About Geospace Technologies Corp.
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 in two segments: Seismic and Non-Seismic. Its seismic product lines consist of land and marine nodal data acquisition systems, permanent land and seabed reservoir monitoring products and services, geophones and geophone strings, hydrophones, leader wire, connectors, telemetry cables, marine streamer retrieval and steering devices, and various other products.
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