Nuveen LLC Makes New Investment in Geospace Technologies Corporation $GEOS

Key Points

• Nuveen LLC has acquired a new position in Geospace Technologies Corporation, purchasing 16,684 shares valued at approximately $120,000, which represents about 0.13% of the company.
• Several hedge funds, including Barclays PLC and Bank of America Corp DE, have recently increased their stakes in Geospace Technologies, reflecting growing institutional interest in the firm.
• Following the company's latest earnings report, analysts upgraded Geospace Technologies from a "sell" to a "hold" rating, indicating a more positive outlook.

Nuveen LLC bought a new position in shares of Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,684 shares of the oil and gas company's stock, valued at approximately $120,000. Nuveen LLC owned approximately 0.13% of Geospace Technologies as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GEOS. Barclays PLC increased its stake in shares of Geospace Technologies by 10.2% during the fourth quarter. Barclays PLC now owns 18,318 shares of the oil and gas company's stock worth $184,000 after buying an additional 1,696 shares during the period. Dimensional Fund Advisors LP raised its holdings in Geospace Technologies by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 649,933 shares of the oil and gas company's stock valued at $6,512,000 after acquiring an additional 22,584 shares in the last quarter. Bank of America Corp DE raised its holdings in Geospace Technologies by 45.0% in 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 acquiring an additional 3,782 shares in the last quarter. Grace & White Inc. NY raised its holdings in Geospace Technologies by 39.4% in the first quarter. Grace & White Inc. NY now owns 301,321 shares of the oil and gas company's stock valued at $2,173,000 after acquiring an additional 85,225 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Geospace Technologies by 15.2% in the first quarter. Bank of New York Mellon Corp now owns 30,601 shares of the oil and gas company's stock valued at $221,000 after acquiring an additional 4,043 shares in the last quarter. 57.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Geospace Technologies from a "sell" rating to a "hold" rating in a report on Saturday, August 9th.

Geospace Technologies Stock Down 4.4%

Shares of Geospace Technologies stock opened at $18.03 on Monday. The firm has a market capitalization of $231.14 million, a P/E ratio of -17.01 and a beta of 0.70. Geospace Technologies Corporation has a 52 week low of $5.51 and a 52 week high of $21.60. The firm's 50 day moving average is $15.42 and its two-hundred day moving average is $10.19.

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 EPS for the quarter. Geospace Technologies had a negative net margin of 11.70% and a positive return on equity of 2.77%.

Geospace Technologies 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.

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