Moors & Cabot Inc. Purchases 39,813 Shares of Geospace Technologies Corporation (NASDAQ:GEOS)

Key Points

• Moors & Cabot Inc. boosted its position in Geospace Technologies Corporation by 5.3%, owning approximately 785,900 shares valued at $5.67 million.
• Several institutional investors, including Bank of America and JPMorgan Chase, have increased their stakes in Geospace Technologies, which is largely held by institutional investors at 57.15%.
• Wall Street analysts downgraded Geospace Technologies from a "hold" rating to a "sell" rating, indicating a shift in sentiment amid its recent stock performance.

Moors & Cabot Inc. raised its position in Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 785,900 shares of the oil and gas company's stock after buying an additional 39,813 shares during the period. Moors & Cabot Inc. owned 6.15% of Geospace Technologies worth $5,666,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of Geospace Technologies by 10.4% during the 4th quarter. Wells Fargo & Company MN now owns 14,646 shares of the oil and gas company's stock worth $147,000 after purchasing an additional 1,380 shares during the last quarter. Prudential Financial Inc. grew its stake in Geospace Technologies by 7.7% in the 4th quarter. Prudential Financial Inc. now owns 19,625 shares of the oil and gas company's stock valued at $197,000 after buying an additional 1,400 shares in the last quarter. Barclays PLC grew its stake in Geospace Technologies by 10.2% in the 4th quarter. Barclays PLC now owns 18,318 shares of the oil and gas company's stock valued at $184,000 after buying an additional 1,696 shares in the last quarter. LSV Asset Management grew its stake in Geospace Technologies by 24.4% in the 4th quarter. LSV Asset Management now owns 18,043 shares of the oil and gas company's stock valued at $181,000 after buying an additional 3,543 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Geospace Technologies by 45.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 57.15% of the company's stock.

Geospace Technologies Stock Up 7.4%

Shares of NASDAQ GEOS traded up $1.18 during mid-day trading on Monday, reaching $17.04. 129,775 shares of the company were exchanged, compared to its average volume of 137,486. Geospace Technologies Corporation has a 52 week low of $5.51 and a 52 week high of $18.99. The stock has a market capitalization of $218.22 million, a PE ratio of -13.31 and a beta of 0.60. The company's 50 day moving average price is $11.00 and its 200 day moving average price is $8.69.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Geospace Technologies from a "hold" rating to a "sell" rating in a report on Friday, May 16th.

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.