Geospace Technologies (NASDAQ:GEOS) Rating Increased to Strong-Buy at StockNews.com

Geospace Technologies (NASDAQ:GEOS) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Geospace Technologies Trading Down 0.2 %

Shares of GEOS traded down $0.03 during trading hours on Thursday, reaching $12.60. 38,852 shares of the stock traded hands, compared to its average volume of 52,264. The company has a market cap of $167.83 million, a P/E ratio of 6.77 and a beta of 0.80. The company’s 50-day moving average price is $12.78 and its two-hundred day moving average price is $12.84. Geospace Technologies has a 52-week low of $6.60 and a 52-week high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last announced its quarterly earnings data on Wednesday, February 7th. The oil and gas company reported $0.94 EPS for the quarter. The business had revenue of $50.03 million for the quarter. Geospace Technologies had a return on equity of 18.73% and a net margin of 17.42%.

Insider Buying and Selling at Geospace Technologies

In other news, SVP Robbin B. Adams sold 2,078 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $12.29, for a total value of $25,538.62. Following the transaction, the senior vice president now owns 79,739 shares of the company’s stock, valued at $979,992.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 4,240 shares of company stock valued at $52,124 in the last three months. 6.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GEOS. Moors & Cabot Inc. boosted its position in shares of Geospace Technologies by 0.4% during the 3rd quarter. Moors & Cabot Inc. now owns 738,475 shares of the oil and gas company’s stock valued at $9,563,000 after acquiring an additional 2,700 shares during the last quarter. G2 Investment Partners Management LLC bought a new position in Geospace Technologies during the fourth quarter valued at $5,297,000. Gate City Capital Management LLC purchased a new position in shares of Geospace Technologies in the 4th quarter worth $4,270,000. Glenorchy Capital Ltd bought a new stake in shares of Geospace Technologies in the 4th quarter worth about $2,140,000. Finally, Hillsdale Investment Management Inc. raised its position in shares of Geospace Technologies by 1,067.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 162,242 shares of the oil and gas company’s stock valued at $2,103,000 after buying an additional 148,342 shares in the last quarter. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Geospace Technologies Company Profile

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.