Geospace Technologies (NASDAQ:GEOS) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Geospace Technologies' share price has crossed above its 200-day moving average of $10.54, reaching a high of $17.41 during trading.
• Analysts upgraded Geospace Technologies from a "sell" rating to a "hold" rating" on August 9th, reflecting increased investor confidence.
• The company's recent quarterly earnings report showed an earnings per share (EPS) of $0.06, with a negative net margin of 11.70% and a positive return on equity of 2.77%.

Shares of Geospace Technologies Corporation (NASDAQ:GEOS - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.54 and traded as high as $17.41. Geospace Technologies shares last traded at $17.20, with a volume of 112,444 shares trading hands.

Wall Street Analysts Forecast Growth

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

Geospace Technologies Price Performance

The firm has a fifty day simple moving average of $16.21 and a 200-day simple moving average of $10.81. The firm has a market cap of $249.86 million, a P/E ratio of -18.39 and a beta of 0.70.

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 positive return on equity of 2.77% and a negative net margin of 11.70%.

Institutional Trading of Geospace Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Moors & Cabot Inc. raised its stake in shares of Geospace Technologies by 5.3% in the first quarter. Moors & Cabot Inc. now owns 785,900 shares of the oil and gas company's stock worth $5,666,000 after purchasing an additional 39,813 shares during the last quarter. First Eagle Investment Management LLC increased its position in Geospace Technologies by 8.9% in the second quarter. First Eagle Investment Management LLC now owns 509,364 shares of the oil and gas company's stock worth $7,264,000 after buying an additional 41,477 shares during the last quarter. Grace & White Inc. NY increased its position in Geospace Technologies by 9.6% in the second quarter. Grace & White Inc. NY now owns 330,321 shares of the oil and gas company's stock worth $4,710,000 after buying an additional 29,000 shares during the last quarter. Peapod Lane Capital LLC increased its position in Geospace Technologies by 10.4% in the first quarter. Peapod Lane Capital LLC now owns 280,051 shares of the oil and gas company's stock worth $2,019,000 after buying an additional 26,399 shares during the last quarter. Finally, Glenorchy Capital Ltd increased its position in Geospace Technologies by 1.0% in the second quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company's stock worth $2,765,000 after buying an additional 1,946 shares during the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

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.