Grace & White Inc. NY Raises Holdings in Geospace Technologies Corporation $GEOS

Key Points

• Grace & White Inc. NY increased its holdings in Geospace Technologies by 9.6%, owning about 2.58% of the company with a value of $4.71 million after purchasing an additional 29,000 shares in the second quarter.
• Geospace Technologies shares recently opened at $22.65 and have shown a 52-week range between $5.51 and $24.00, indicating significant volatility.
• Analysts have mixed ratings on Geospace Technologies, with some raising their outlook from "sell" to "hold" while a consensus rating remains at "Sell".

Grace & White Inc. NY lifted its holdings in shares of Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) by 9.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,321 shares of the oil and gas company's stock after purchasing an additional 29,000 shares during the period. Grace & White Inc. NY owned about 2.58% of Geospace Technologies worth $4,710,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GEOS. Peapod Lane Capital LLC grew its stake in Geospace Technologies by 10.4% in the 1st quarter. Peapod Lane Capital LLC now owns 280,051 shares of the oil and gas company's stock worth $2,019,000 after acquiring an additional 26,399 shares during the period. Nuveen LLC purchased a new stake in Geospace Technologies in the 1st quarter worth approximately $120,000. Moors & Cabot Inc. grew its stake in Geospace Technologies by 5.3% in the 1st quarter. Moors & Cabot Inc. now owns 785,900 shares of the oil and gas company's stock worth $5,666,000 after acquiring an additional 39,813 shares during the period. US Bancorp DE grew its stake in Geospace Technologies by 74.6% in the 1st quarter. US Bancorp DE now owns 124,034 shares of the oil and gas company's stock worth $894,000 after acquiring an additional 53,001 shares during the period. Finally, EagleClaw Capital Managment LLC grew its stake in Geospace Technologies by 193.1% in the 1st quarter. EagleClaw Capital Managment LLC now owns 40,150 shares of the oil and gas company's stock worth $289,000 after acquiring an additional 26,450 shares during the period. 57.15% of the stock is owned by hedge funds and other institutional investors.

Geospace Technologies Stock Down 4.0%

Shares of GEOS opened at $22.65 on Friday. The firm has a market cap of $290.37 million, a PE ratio of -21.37 and a beta of 0.66. The company's fifty day moving average is $18.60 and its two-hundred day moving average is $12.20. Geospace Technologies Corporation has a fifty-two week low of $5.51 and a fifty-two week high of $24.00.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The oil and gas company reported $0.06 earnings per share for the quarter. Geospace Technologies had a negative net margin of 11.70% and a positive return on equity of 2.77%.

Analysts Set New Price Targets

GEOS has been the subject of several recent analyst reports. Wall Street Zen raised shares of Geospace Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Geospace Technologies in a research note on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Sell".

Geospace Technologies Company Profile

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.

Want to see what other hedge funds are holding GEOS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Geospace Technologies Corporation (NASDAQ:GEOS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.