Geospace Technologies (NASDAQ:GEOS) Share Price Crosses 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 two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Geospace Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th.

Geospace Technologies Stock Performance

The company's 50-day moving average price is $15.75 and its 200 day moving average price is $10.54. The stock has a market cap of $220.50 million, a PE ratio of -16.23 and a beta of 0.70.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last posted its quarterly earnings data 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%.

Institutional Trading of Geospace Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of GEOS. Grace & White Inc. NY increased its stake in shares of Geospace Technologies by 39.4% in the first quarter. Grace & White Inc. NY now owns 301,321 shares of the oil and gas company's stock worth $2,173,000 after purchasing an additional 85,225 shares in the last quarter. US Bancorp DE boosted its holdings in Geospace Technologies by 74.6% in the 1st quarter. US Bancorp DE now owns 124,034 shares of the oil and gas company's stock worth $894,000 after buying an additional 53,001 shares during the period. Strs Ohio purchased a new stake in Geospace Technologies in the 1st quarter worth $367,000. First Eagle Investment Management LLC raised its holdings in Geospace Technologies by 8.9% during the second quarter. First Eagle Investment Management LLC now owns 509,364 shares of the oil and gas company's stock valued at $7,264,000 after acquiring an additional 41,477 shares during the period. Finally, Moors & Cabot Inc. lifted its position 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 valued at $5,666,000 after acquiring an additional 39,813 shares in the last quarter. 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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