Geospace Technologies (NASDAQ:GEOS) Releases Quarterly Earnings Results

Geospace Technologies (NASDAQ:GEOS) announced its earnings results on Wednesday. The oil and gas company reported ($0.76) EPS for the quarter, Zacks reports. The company had revenue of $25.59 million during the quarter. Geospace Technologies had a negative return on equity of 7.26% and a negative net margin of 8.78%.

Geospace Technologies Trading Down 11.3%

GEOS traded down $2.04 on Wednesday, hitting $16.00. 270,773 shares of the company’s stock traded hands, compared to its average volume of 225,651. The company’s 50 day simple moving average is $17.39 and its 200-day simple moving average is $18.91. Geospace Technologies has a one year low of $5.51 and a one year high of $29.89. The firm has a market cap of $206.24 million, a price-to-earnings ratio of -20.78 and a beta of 0.46.

Hedge Funds Weigh In On Geospace Technologies

Several institutional investors have recently bought and sold shares of GEOS. Glenorchy Capital Ltd lifted its stake in Geospace Technologies by 1.0% in the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock worth $2,765,000 after purchasing an additional 1,946 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Geospace Technologies by 670.8% during the third quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 3,005 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Geospace Technologies during the 2nd quarter valued at approximately $51,000. Empowered Funds LLC increased its stake in Geospace Technologies by 8.2% in the 1st quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock worth $376,000 after acquiring an additional 3,969 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Geospace Technologies by 3.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 131,478 shares of the oil and gas company’s stock worth $1,875,000 after acquiring an additional 4,855 shares during the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Geospace Technologies in a research note on Monday, December 29th. Wall Street Zen cut shares of Geospace Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.