Geospace Technologies (NASDAQ:GEOS) Rating Increased to Sell at Wall Street Zen

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

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Geospace Technologies in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Geospace Technologies Trading Down 5.2%

Shares of NASDAQ:GEOS opened at $7.52 on Friday. The firm has a 50 day moving average of $10.38 and a 200-day moving average of $14.73. The stock has a market capitalization of $97.31 million, a PE ratio of -3.31 and a beta of 0.20. Geospace Technologies has a 12 month low of $5.51 and a 12 month high of $29.89.

Geospace Technologies (NASDAQ:GEOS) last issued its earnings results on Thursday, May 7th. The oil and gas company reported ($0.86) EPS for the quarter. The firm had revenue of $19.74 million during the quarter. Geospace Technologies had a negative net margin of 28.86% and a negative return on equity of 24.22%.

Hedge Funds Weigh In On Geospace Technologies

A number of institutional investors have recently added to or reduced their stakes in GEOS. Empowered Funds LLC increased its position 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 purchasing an additional 3,969 shares in the last quarter. Glenorchy Capital Ltd increased its position in Geospace Technologies by 1.0% during the 2nd 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Geospace Technologies during the 2nd quarter worth approximately $51,000. Bank of America Corp DE increased its position in Geospace Technologies by 68.4% during the 2nd quarter. Bank of America Corp DE now owns 13,043 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 5,299 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Geospace Technologies during the 2nd quarter worth approximately $306,000. 57.15% of the stock is currently owned by institutional investors and hedge funds.

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.