Geospace Technologies (NASDAQ:GEOS) Posts Earnings Results

Geospace Technologies (NASDAQ:GEOS) announced its quarterly earnings results on Thursday. The oil and gas company reported $0.33 EPS for the quarter, reports. Geospace Technologies had a net margin of 9.80% and a return on equity of 9.73%. The firm had revenue of $29.32 million during the quarter.

Geospace Technologies Stock Performance

GEOS opened at $12.03 on Friday. The stock’s 50 day moving average price is $12.28 and its 200-day moving average price is $9.62. Geospace Technologies has a one year low of $3.76 and a one year high of $14.59. The stock has a market cap of $158.68 million, a price-to-earnings ratio of 13.22 and a beta of 1.18.

Hedge Funds Weigh In On Geospace Technologies

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its position in shares of Geospace Technologies by 85,980.0% during the second quarter. Osaic Holdings Inc. now owns 4,304 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 4,299 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Geospace Technologies in the 3rd quarter valued at about $37,000. Bank of America Corp DE grew its stake in Geospace Technologies by 25,282.1% in the 1st quarter. Bank of America Corp DE now owns 7,107 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 7,079 shares in the last quarter. Prelude Capital Management LLC purchased a new position in shares of Geospace Technologies during the first quarter worth approximately $58,000. Finally, Millennium Management LLC bought a new stake in shares of Geospace Technologies during the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 41.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GEOS shares. StockNews.com began coverage on Geospace Technologies in a research report on Thursday, October 5th. They set a “buy” rating on the stock. TheStreet raised shares of Geospace Technologies from a “c” rating to a “b-” rating in a research note on Thursday.

About Geospace Technologies

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.