Geospace Technologies (NASDAQ:GEOS) Share Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Geospace Technologies fell below its 200-day moving average on Thursday, trading as low as $6.89 and last changing hands at $7.12. The stock’s 200-day average is $10.77.
• Analyst sentiment remains weak, with recent updates from Wall Street Zen and Weiss Ratings leaving the stock at an overall Sell rating.
• The company reported a quarterly loss of $0.86 per share on revenue of $19.74 million, with negative margins and return on equity underscoring ongoing financial pressure.

Geospace Technologies Corporation (NASDAQ:GEOS - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.77 and traded as low as $6.89. Geospace Technologies shares last traded at $7.12, with a volume of 50,036 shares traded.

Analyst Upgrades and Downgrades

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

Geospace Technologies Stock Up 0.3%

The business has a 50-day simple moving average of $7.43 and a 200-day simple moving average of $10.77. The company has a market cap of $92.13 million, a PE ratio of -3.14 and a beta of 0.20.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The oil and gas company reported ($0.86) EPS for the quarter. Geospace Technologies had a negative return on equity of 24.22% and a negative net margin of 28.86%.The firm had revenue of $19.74 million for the quarter.

Hedge Funds Weigh In On Geospace Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of GEOS. BNP Paribas Financial Markets grew its position 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 acquiring an additional 3,005 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Geospace Technologies during the second quarter worth about $51,000. Kestra Advisory Services LLC purchased a new position in shares of Geospace Technologies in the fourth quarter valued at approximately $67,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Geospace Technologies in the fourth quarter valued at approximately $176,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Geospace Technologies in the fourth quarter valued at approximately $178,000. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

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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