Geospace Technologies Corporation $GEOS Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its stake in shares of Geospace Technologies Corporation (NASDAQ:GEOS) by 6.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 714,750 shares of the oil and gas company’s stock after selling 49,850 shares during the period. Moors & Cabot Inc. owned approximately 5.57% of Geospace Technologies worth $13,552,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. raised its holdings in Geospace Technologies by 14,530.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,463 shares of the oil and gas company’s stock worth $28,000 after buying an additional 1,453 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Geospace Technologies in the second quarter worth about $51,000. BNP Paribas Financial Markets increased its position in shares of 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 acquiring an additional 3,005 shares in the last quarter. Bank of America Corp DE increased its position in shares of Geospace Technologies by 68.4% in the second quarter. Bank of America Corp DE now owns 13,043 shares of the oil and gas company’s stock worth $186,000 after acquiring an additional 5,299 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Geospace Technologies during the second quarter valued at approximately $306,000. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Geospace Technologies Price Performance

NASDAQ:GEOS opened at $12.24 on Tuesday. The stock has a market cap of $157.75 million, a PE ratio of -5.61 and a beta of 0.51. Geospace Technologies Corporation has a fifty-two week low of $5.51 and a fifty-two week high of $29.89. The stock’s 50-day moving average is $14.37 and its two-hundred day moving average is $17.70.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.76) earnings per share (EPS) for the quarter. The company had revenue of $25.59 million during the quarter. Geospace Technologies had a negative return on equity of 21.91% and a negative net margin of 28.10%.

Wall Street Analysts Forecast Growth

GEOS has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Geospace Technologies from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Geospace Technologies in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average 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.