Geospace Technologies (NASDAQ:GEOS) Announces Earnings Results

Key Points

• Geospace Technologies reported $0.06 earnings per share for the quarter, with a negative net margin of 11.70% and a positive return on equity of 2.76%.
• Shares traded down to $14.49, with a price-to-earnings ratio of -13.67 and a market cap of $185.62 million.
• A hedge fund increased its stake in Geospace Technologies by 8.2%, reflecting growing institutional interest as hedge funds own 57.15% of the company's stock.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) posted its quarterly earnings data on Thursday. The oil and gas company reported $0.06 earnings per share for the quarter, Zacks reports. Geospace Technologies had a negative net margin of 11.70% and a positive return on equity of 2.76%.

Geospace Technologies Price Performance

Shares of NASDAQ GEOS traded down $2.83 during trading on Friday, hitting $14.49. 429,930 shares of the company were exchanged, compared to its average volume of 223,547. The company has a market cap of $185.62 million, a price-to-earnings ratio of -13.67 and a beta of 0.60. Geospace Technologies has a 1 year low of $5.51 and a 1 year high of $18.99. The firm's fifty day moving average price is $12.14 and its 200 day moving average price is $8.96.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Geospace Technologies

A hedge fund recently raised its stake in Geospace Technologies stock. Empowered Funds LLC grew its stake in shares of Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) by 8.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,207 shares of the oil and gas company's stock after purchasing an additional 3,969 shares during the period. Empowered Funds LLC owned approximately 0.41% of Geospace Technologies worth $376,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 57.15% of the company's stock.

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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