Geospace Technologies (NASDAQ:GEOS) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Geospace Technologies (NASDAQ:GEOS) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings raised Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Geospace Technologies presently has a consensus rating of “Sell”.

Geospace Technologies Trading Up 8.9%

Shares of GEOS stock opened at $5.60 on Friday. Geospace Technologies has a 12 month low of $5.05 and a 12 month high of $29.89. The stock has a market cap of $72.46 million, a P/E ratio of -1.82 and a beta of 0.19. The company has a 50 day simple moving average of $6.85 and a two-hundred day simple moving average of $9.18.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($0.75) earnings per share 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.

Hedge Funds Weigh In On Geospace Technologies

Several large investors have recently added to or reduced their stakes in the company. Tieton Capital Management LLC bought a new position in shares of Geospace Technologies in the second quarter worth approximately $6,142,000. BlackRock Inc. purchased a new stake in shares of Geospace Technologies in the second quarter worth $1,569,000. Sei Investments Co. raised its position in shares of Geospace Technologies by 108.6% during the 1st 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 period. Grace & White Inc. NY raised its position in shares of Geospace Technologies by 53.7% during the 1st 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 period. Finally, De Lisle Partners LLP purchased a new position in shares of Geospace Technologies during the 2nd quarter valued at $998,000. Hedge funds and other institutional investors own 57.15% of the company’s stock.

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.