Geospace Technologies (NASDAQ:GEOS) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Geospace Technologies has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, indicating a shift in sentiment towards the stock.
• The company's stock has seen a significant decrease of 16.3%, with its trading range over the past year being between $5.51 and $18.99.
• Institutional investors now own 57.15% of Geospace Technologies, with notable increases in holdings reported by Wells Fargo, Prudential Financial, and Bank of America.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Geospace Technologies Trading Up 4.1%

NASDAQ:GEOS traded up $0.62 on Friday, hitting $15.89. The company had a trading volume of 37,877 shares, compared to its average volume of 142,264. The stock has a market capitalization of $203.71 million, a price-to-earnings ratio of -14.99 and a beta of 0.60. The firm has a 50 day moving average of $12.47 and a two-hundred day moving average of $9.03. Geospace Technologies has a 52 week low of $5.51 and a 52 week high of $18.99.

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

Hedge Funds Weigh In On Geospace Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEOS. Prudential Financial Inc. increased its position 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 acquiring an additional 1,400 shares during the period. JPMorgan Chase & Co. increased its position in shares of 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 buying an additional 8,123 shares during the period. Wells Fargo & Company MN increased its position in shares of 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 buying an additional 1,380 shares during the period. LSV Asset Management increased its position in shares of 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 buying an additional 3,543 shares during the period. Finally, Barclays PLC increased its position 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. 57.15% of the stock is currently owned by institutional investors and hedge funds.

Geospace Technologies Company 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.