BlackRock Inc. acquired a new position in Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 231,765 shares of the oil and gas company's stock, valued at approximately $1,569,000. BlackRock Inc. owned 1.79% of Geospace Technologies as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Sei Investments Co. grew its stake in shares of Geospace Technologies by 108.6% during the 1st quarter. Sei Investments Co. now owns 410,906 shares of the oil and gas company's stock valued at $5,013,000 after acquiring an additional 213,950 shares during the period. Grace & White Inc. NY raised its stake in Geospace Technologies by 53.7% during the 1st quarter. Grace & White Inc. NY now owns 473,201 shares of the oil and gas company's stock worth $5,773,000 after acquiring an additional 165,406 shares during the period. De Lisle Partners LLP raised its stake in Geospace Technologies by 2.0% during the 4th quarter. De Lisle Partners LLP now owns 147,133 shares of the oil and gas company's stock worth $2,482,000 after acquiring an additional 2,899 shares during the period. FourThought Financial Partners LLC purchased a new position in Geospace Technologies during the fourth quarter valued at approximately $276,000. Finally, Marshall Wace LLP bought a new position in shares of Geospace Technologies in the fourth quarter worth approximately $199,000. 57.15% of the stock is owned by hedge funds and other institutional investors.
Geospace Technologies Stock Performance
NASDAQ:GEOS opened at $5.38 on Monday. The stock has a 50-day moving average price of $6.33 and a 200 day moving average price of $8.32. The stock has a market capitalization of $69.62 million, a P/E ratio of -1.75 and a beta of 0.13. Geospace Technologies Corporation has a 12-month low of $5.05 and a 12-month high of $29.89.
Geospace Technologies (NASDAQ:GEOS - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($0.75) EPS for the quarter. Geospace Technologies had a negative return on equity of 35.80% and a negative net margin of 43.10%.The business had revenue of $15.80 million during the quarter.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on GEOS. Weiss Ratings raised 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 cut shares of Geospace Technologies from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Geospace Technologies presently has an average rating of "Sell".
Read Our Latest Stock Report on GEOS
About Geospace Technologies
(
Free Report)
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.
See Also
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