Geospace Technologies (NASDAQ:GEOS) Announces Earnings Results

Key Points

• Geospace Technologies reported a quarterly loss of $0.75 per share, alongside a negative net margin of 28.86% and negative return on equity of 24.22%.
• Shares fell $0.53 to $6.82, near the company’s one-year low of $6.28 and well below its one-year high of $29.89.
• Institutional investors own 57.15% of the stock, but analyst sentiment remains negative, with the company carrying an average “Sell” rating.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) issued its earnings results on Thursday. The oil and gas company reported ($0.75) EPS for the quarter, Zacks reports. Geospace Technologies had a negative net margin of 28.86% and a negative return on equity of 24.22%.

Geospace Technologies Price Performance

Shares of GEOS stock traded down $0.53 during trading on Thursday, reaching $6.82. The company had a trading volume of 116,720 shares, compared to its average volume of 204,176. The firm's 50 day simple moving average is $7.24 and its two-hundred day simple moving average is $9.89. Geospace Technologies has a one year low of $6.28 and a one year high of $29.89. The company has a market capitalization of $88.25 million, a PE ratio of -3.00 and a beta of 0.19.

Hedge Funds Weigh In On Geospace Technologies

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Geospace Technologies by 670.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company's stock valued at $65,000 after buying an additional 3,005 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Geospace Technologies during the 2nd quarter worth $51,000. Kestra Advisory Services LLC bought a new stake in Geospace Technologies during the fourth quarter valued at about $67,000. Charles Schwab Investment Management Inc. bought a new stake in Geospace Technologies during the fourth quarter valued at about $176,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Geospace Technologies in the fourth quarter valued at about $178,000. Institutional investors own 57.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Geospace Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, June 16th. Wall Street Zen upgraded Geospace Technologies from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of "Sell".

About Geospace Technologies

Geospace Technologies Corporation specializes in the design, manufacturing and marketing of geophysical instrumentation for seismic data acquisition. The company's solutions address the needs of oil and gas exploration and production companies by enabling detailed subsurface imaging through advanced sensor and acquisition systems. Geospace serves both land and marine seismic markets, offering equipment that meets the rigorous demands of contemporary seismic surveys.

In its Land Products segment, Geospace Technologies offers a range of components including geophones, accelerometers, cable and recorder accessories designed to collect high-quality seismic signals in onshore environments.

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