Geospace Technologies (NASDAQ:GEOS) Stock Breaks Below Two Hundred Day Moving Average – Time to Sell?

Geospace Technologies Corporation (NASDAQ:GEOS)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.19 and traded as low as $4.55. Geospace Technologies shares last traded at $4.60, with a volume of 94,067 shares traded.

Analyst Upgrades and Downgrades

GEOS has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Geospace Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. Wall Street Zen cut Geospace Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Geospace Technologies currently has a consensus rating of “Sell”.

Geospace Technologies Stock Performance

The firm has a market capitalization of $57.05 million, a price-to-earnings ratio of -1.43 and a beta of 0.13. The company has a 50 day moving average price of $5.14 and a two-hundred day moving average price of $7.14.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($0.75) earnings per share (EPS) for the quarter. Geospace Technologies had a negative net margin of 43.10% and a negative return on equity of 35.80%. The company had revenue of $15.80 million during the quarter.

Institutional Trading of Geospace Technologies

Several institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new stake in shares of Geospace Technologies during the second quarter worth about $105,000. AXQ Capital LP purchased a new position in Geospace Technologies in the 2nd quarter valued at about $133,000. Empowered Funds LLC purchased a new position in Geospace Technologies in the 2nd quarter valued at about $137,000. Elevation Point Wealth Partners LLC purchased a new position in Geospace Technologies in the 2nd quarter valued at about $165,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Geospace Technologies in the 2nd quarter worth about $212,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

About Geospace Technologies

Geospace Technologies Corporation is a Houston-based technology company that develops and manufactures equipment used to acquire and monitor seismic data. Its products support onshore, offshore and ocean-bottom seismic surveys, which help energy companies and geophysical contractors evaluate subsurface formations for oil and natural gas exploration, field development and reservoir management.

The company’s offerings include wireless and cable-based seismic data acquisition systems, seismic sensors and geophones, recording equipment, ocean-bottom nodes and related hardware and software.