US Bancorp DE Has $894,000 Holdings in Geospace Technologies Corporation (NASDAQ:GEOS)

Key Points

• US Bancorp DE increased its stake in Geospace Technologies by 74.6% in Q1, owning 124,034 shares worth $894,000.
• Geospace Technologies' stock has shown high volatility, with a 12-month low of $5.51 and a 12-month high of $18.99.
• Wall Street analysts have upgraded Geospace Technologies from a "sell" rating to a "hold" rating, indicating a potential shift in market sentiment.

US Bancorp DE grew its stake in Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) by 74.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,034 shares of the oil and gas company's stock after buying an additional 53,001 shares during the quarter. US Bancorp DE owned 0.97% of Geospace Technologies worth $894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of 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 buying an additional 3,782 shares during the period. Mariner LLC acquired a new position in Geospace Technologies during the fourth quarter worth $127,000. JPMorgan Chase & Co. boosted its holdings in Geospace Technologies by 148.9% during the fourth quarter. JPMorgan Chase & Co. now owns 13,577 shares of the oil and gas company's stock worth $136,000 after purchasing an additional 8,123 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Geospace Technologies by 10.4% during the fourth 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. Finally, LSV Asset Management boosted its holdings in Geospace Technologies by 24.4% during the fourth quarter. LSV Asset Management now owns 18,043 shares of the oil and gas company's stock worth $181,000 after purchasing an additional 3,543 shares during the last quarter. Institutional investors and hedge funds own 57.15% of the company's stock.

Geospace Technologies Trading Down 16.3%

Shares of GEOS opened at $14.49 on Friday. Geospace Technologies Corporation has a 12 month low of $5.51 and a 12 month high of $18.99. The firm has a fifty day simple moving average of $12.14 and a 200 day simple moving average of $8.96. The stock has a market capitalization of $185.62 million, a price-to-earnings ratio of -13.67 and a beta of 0.60.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last announced its 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 2.76%.

Wall Street Analyst Weigh In

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

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.

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