Geospace Technologies (NASDAQ:GEOS) Stock Passes Above 200-Day Moving Average - Here's Why

Geospace Technologies Corporation (NASDAQ:GEOS - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.57 and traded as high as $16.75. Geospace Technologies shares last traded at $16.02, with a volume of 382,598 shares.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Geospace Technologies from a "hold" rating to a "sell" rating in a research note on Friday, May 16th.

Geospace Technologies Stock Down 2.2%

The stock has a market capitalization of $203.12 million, a PE ratio of -12.39 and a beta of 0.60. The firm has a 50 day moving average price of $11.00 and a 200 day moving average price of $8.71.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The oil and gas company reported ($0.77) EPS for the quarter. Geospace Technologies had a negative net margin of 14.03% and a positive return on equity of 0.69%.

Institutional Trading of Geospace Technologies

A number of institutional investors and hedge funds have recently modified their holdings of GEOS. Prudential Financial Inc. grew its holdings in Geospace Technologies by 7.7% during the fourth quarter. Prudential Financial Inc. now owns 19,625 shares of the oil and gas company's stock valued at $197,000 after purchasing an additional 1,400 shares during the period. JPMorgan Chase & Co. grew its holdings in 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 during the period. Wells Fargo & Company MN grew its holdings in 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 valued at $147,000 after purchasing an additional 1,380 shares during the period. LSV Asset Management grew its holdings in 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 valued at $181,000 after purchasing an additional 3,543 shares during the period. Finally, Barclays PLC grew its holdings in Geospace Technologies by 10.2% during the fourth quarter. Barclays PLC now owns 18,318 shares of the oil and gas company's stock valued at $184,000 after purchasing an additional 1,696 shares during the period. 57.15% of the stock is 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.