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

Key Points

• Geospace Technologies shares have recently crossed above their 200-day moving average of $9.22, trading as high as $18.10 and last at $17.07 with a volume of 272,592 shares.
• Wall Street Zen upgraded the stock from a "sell" rating to a "hold" rating, indicating a potential positive outlook for the company.
• Institutional investors have shown increased interest, with hedge funds currently owning 57.15% of Geospace Technologies’ shares, including significant purchases by Raymond James and JPMorgan Chase.

Geospace Technologies Corporation (NASDAQ:GEOS - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.22 and traded as high as $18.10. Geospace Technologies shares last traded at $17.07, with a volume of 272,592 shares.

Wall Street Analysts Forecast Growth

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

Geospace Technologies Stock Up 5.0%

The company's fifty day simple moving average is $13.24 and its 200 day simple moving average is $9.22. The firm has a market capitalization of $218.84 million, a PE ratio of -16.10 and a beta of 0.60.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The oil and gas company reported $0.06 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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Geospace Technologies during the second quarter valued at approximately $51,000. Bank of America Corp DE increased its stake in shares of Geospace Technologies by 45.0% during the fourth quarter. Bank of America Corp DE now owns 12,191 shares of the oil and gas company's stock valued at $122,000 after purchasing an additional 3,782 shares in the last quarter. ARS Wealth Advisors Group LLC bought a new position in shares of Geospace Technologies during the second quarter valued at approximately $179,000. Mariner LLC bought a new position in shares of Geospace Technologies during the fourth quarter valued at approximately $127,000. Finally, JPMorgan Chase & Co. increased its stake 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 valued at $136,000 after purchasing an additional 8,123 shares in the last quarter. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

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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