Geospace Technologies (NASDAQ:GEOS) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Geospace Technologies' stock recently surpassed its 200-day moving average of $10.05, reaching a high of $18.75 before closing at $17.55 with significant trading volume.
• Analyst ratings have changed, with Wall Street Zen upgrading Geospace Technologies from a "sell" to a "hold" rating as of August 9th.
• Institutional ownership in Geospace Technologies is high, with large investors like Bank of America increasing their stakes, indicating growing institutional confidence in the company.

Geospace Technologies Corporation (NASDAQ:GEOS - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.05 and traded as high as $18.75. Geospace Technologies shares last traded at $17.55, with a volume of 161,301 shares traded.

Analysts Set New Price Targets

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 Stock Performance

The firm has a market cap of $210.91 million, a PE ratio of -15.52 and a beta of 0.70. The firm has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $10.25.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The oil and gas company reported $0.06 earnings per share for the quarter. Geospace Technologies had a positive return on equity of 2.77% and a negative net margin of 11.70%.

Institutional Investors Weigh In On Geospace Technologies

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Geospace Technologies in the 2nd quarter valued at approximately $51,000. Bank of America Corp DE lifted its stake in shares of Geospace Technologies by 45.0% in the 4th 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 during the last quarter. ARS Wealth Advisors Group LLC bought a new stake in shares of Geospace Technologies in the 2nd quarter valued at approximately $179,000. Nuveen LLC bought a new stake in shares of Geospace Technologies in the 1st quarter valued at approximately $120,000. Finally, Barclays PLC lifted its stake in shares of Geospace Technologies by 10.2% in the 4th 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 last quarter. 57.15% of the stock is owned by 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.