Grace & White Inc. NY Grows Stake in Geospace Technologies Corporation (NASDAQ:GEOS)

Grace & White Inc. NY boosted its position in shares of Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) by 39.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 301,321 shares of the oil and gas company's stock after buying an additional 85,225 shares during the period. Grace & White Inc. NY owned approximately 2.36% of Geospace Technologies worth $2,173,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Geospace Technologies by 45.0% during the fourth quarter. Bank of America Corp DE now owns 12,191 shares of the oil and gas company's stock valued at $122,000 after buying an additional 3,782 shares during the last quarter. Mariner LLC bought a new stake in shares of Geospace Technologies in the 4th quarter valued at approximately $127,000. JPMorgan Chase & Co. lifted its stake in shares of Geospace Technologies by 148.9% in the 4th quarter. JPMorgan Chase & Co. now owns 13,577 shares of the oil and gas company's stock valued at $136,000 after purchasing an additional 8,123 shares during the last quarter. EagleClaw Capital Managment LLC lifted its stake in shares of Geospace Technologies by 24.5% in the 4th quarter. EagleClaw Capital Managment LLC now owns 13,700 shares of the oil and gas company's stock valued at $137,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Geospace Technologies by 10.4% in the 4th quarter. Wells Fargo & Company MN now owns 14,646 shares of the oil and gas company's stock valued at $147,000 after purchasing an additional 1,380 shares during the last quarter. 57.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Geospace Technologies from a "hold" rating to a "sell" rating in a research note on Friday, May 16th.

Geospace Technologies Price Performance

Shares of NASDAQ:GEOS traded up $0.23 during trading on Thursday, hitting $15.93. The company had a trading volume of 258,279 shares, compared to its average volume of 85,130. The stock has a market cap of $204.06 million, a price-to-earnings ratio of -12.45 and a beta of 0.17. Geospace Technologies Corporation has a one year low of $5.51 and a one year high of $18.99. The company has a fifty day simple moving average of $7.19 and a two-hundred day simple moving average of $8.11.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The oil and gas company reported ($0.77) earnings per share for the quarter. Geospace Technologies had a positive return on equity of 0.69% and a negative net margin of 14.03%.

About Geospace Technologies

Geospace Technologies Corporation designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data in order to locate, characterize, and monitor hydrocarbon producing reservoirs. The company operates through three segments: Oil and Gas Markets, Adjacent Markets, and Emerging Markets.