Geospace Technologies (NASDAQ:GEOS) Upgraded at StockNews.com

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

Geospace Technologies Stock Down 2.2 %

Shares of GEOS opened at $11.88 on Thursday. The stock has a market cap of $158.24 million, a price-to-earnings ratio of 6.39 and a beta of 0.78. Geospace Technologies has a 12 month low of $6.60 and a 12 month high of $17.09. The company has a 50-day moving average price of $12.77 and a two-hundred day moving average price of $12.85.

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

Insider Activity

In related news, SVP Robbin B. Adams sold 2,078 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 79,739 shares of the company’s stock, valued at $979,992.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 4,240 shares of company stock worth $52,124. Insiders own 6.89% of the company’s stock.

Institutional Trading of Geospace Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of GEOS. G2 Investment Partners Management LLC acquired a new stake in shares of Geospace Technologies in the fourth quarter valued at approximately $5,297,000. Gate City Capital Management LLC acquired a new stake in shares of Geospace Technologies in the fourth quarter valued at approximately $4,270,000. Glenorchy Capital Ltd acquired a new stake in shares of Geospace Technologies in the fourth quarter valued at approximately $2,140,000. Hillsdale Investment Management Inc. increased its holdings in shares of Geospace Technologies by 1,067.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 162,242 shares of the oil and gas company’s stock valued at $2,103,000 after purchasing an additional 148,342 shares in the last quarter. Finally, EAM Investors LLC acquired a new stake in shares of Geospace Technologies in the third quarter valued at approximately $1,769,000. Institutional investors and hedge funds 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.