Geospace Technologies (NASDAQ:GEOS) Announces Earnings Results

Geospace Technologies (NASDAQ:GEOS) posted its earnings results on Thursday. The oil and gas company reported ($0.75) earnings per share (EPS) for the quarter, Zacks reports. Geospace Technologies had a negative return on equity of 24.22% and a negative net margin of 28.86%.

Geospace Technologies Stock Down 7.2%

Shares of GEOS traded down $0.53 during trading on Thursday, reaching $6.82. The company’s stock had a trading volume of 116,720 shares, compared to its average volume of 204,176. The company has a market cap of $88.25 million, a price-to-earnings ratio of -3.00 and a beta of 0.19. The company has a fifty day moving average of $7.24 and a two-hundred day moving average of $9.89. Geospace Technologies has a twelve month low of $6.28 and a twelve month high of $29.89.

Institutional Trading of Geospace Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in Geospace Technologies by 8.2% during the 1st quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock worth $376,000 after acquiring an additional 3,969 shares in the last quarter. Glenorchy Capital Ltd lifted its position in shares of Geospace Technologies by 1.0% during the second quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock worth $2,765,000 after purchasing an additional 1,946 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Geospace Technologies in the second quarter worth about $51,000. Bank of America Corp DE increased its holdings in 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 valued at $186,000 after buying an additional 5,299 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in Geospace Technologies during the second quarter valued at approximately $306,000. 57.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GEOS shares. Weiss Ratings upgraded shares of Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Wall Street Zen raised shares of Geospace Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About Geospace Technologies

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.