Geospace Technologies (NASDAQ:GEOS) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a buy rating to a strong-buy rating in a report released on Thursday.

Geospace Technologies Price Performance

NASDAQ GEOS traded down $0.03 on Thursday, reaching $12.60. 38,852 shares of the company’s stock traded hands, compared to its average volume of 52,264. The stock has a market cap of $167.83 million, a PE ratio of 6.77 and a beta of 0.80. Geospace Technologies has a 12 month low of $6.60 and a 12 month high of $17.09. The stock has a 50-day simple moving average of $12.78 and a 200 day simple moving average of $12.84.

Geospace Technologies (NASDAQ:GEOS) last released its earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 EPS for the quarter. The company had revenue of $50.03 million for 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 stock was sold at an average price of $12.29, for a total transaction of $25,538.62. Following the transaction, the senior vice president now directly owns 79,739 shares in the company, valued at approximately $979,992.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 4,240 shares of company stock valued at $52,124. Insiders own 6.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in Geospace Technologies by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 33,410 shares of the oil and gas company’s stock worth $433,000 after acquiring an additional 3,570 shares during the last quarter. Barclays PLC bought a new stake in shares of Geospace Technologies in the third quarter worth about $109,000. Moors & Cabot Inc. increased its holdings in Geospace Technologies by 0.4% during the 3rd quarter. Moors & Cabot Inc. now owns 738,475 shares of the oil and gas company’s stock valued at $9,563,000 after purchasing an additional 2,700 shares during the period. Mraz Amerine & Associates Inc. raised its position in Geospace Technologies by 8.4% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 25,931 shares of the oil and gas company’s stock valued at $336,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Geospace Technologies by 27.0% in the 3rd quarter. Acadian Asset Management LLC now owns 92,855 shares of the oil and gas company’s stock worth $1,201,000 after buying an additional 19,764 shares during the period. Institutional investors own 57.15% of the company’s stock.

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.