Geospace Technologies Corporation $GEOS Shares Acquired by Sei Investments Co.

Key Points

• Sei Investments Co. more than doubled its Geospace Technologies stake in the first quarter, purchasing 213,950 additional shares for a total of 410,906 shares, or approximately 3.18% of the company.
• Institutional investors and hedge funds collectively own 57.15% of GEOS, with several other firms recently initiating or increasing positions.
• GEOS shares opened at $7.31, down 2.8%, while the company reported a quarterly loss of $0.86 per share on $19.74 million in revenue. The stock carries a consensus “Sell” rating and has a 12-month range of $6.28 to $29.89.

Sei Investments Co. increased its position in shares of Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) by 108.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 410,906 shares of the oil and gas company's stock after purchasing an additional 213,950 shares during the period. Sei Investments Co. owned approximately 3.18% of Geospace Technologies worth $5,013,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Geospace Technologies in the 2nd quarter valued at approximately $51,000. BNP Paribas Financial Markets lifted its holdings in shares of Geospace Technologies by 670.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company's stock valued at $65,000 after buying an additional 3,005 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Geospace Technologies in the 4th quarter valued at approximately $67,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Geospace Technologies in the 4th quarter valued at approximately $176,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Geospace Technologies in the fourth quarter valued at approximately $178,000. Institutional investors and hedge funds own 57.15% of the company's stock.

Geospace Technologies Trading Down 2.8%

Shares of Geospace Technologies stock opened at $7.31 on Wednesday. The company has a 50-day moving average of $7.27 and a two-hundred day moving average of $10.00. Geospace Technologies Corporation has a 12-month low of $6.28 and a 12-month high of $29.89. The stock has a market cap of $94.59 million, a PE ratio of -3.22 and a beta of 0.19.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GEOS. Wall Street Zen raised Geospace Technologies from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of Geospace Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, 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.

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