Geospace Technologies (NASDAQ:GEOS - Get Free Report) was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Thursday.
Geospace Technologies Stock Up 6.3 %
NASDAQ:GEOS traded up $0.75 during trading hours on Thursday, reaching $12.63. 68,196 shares of the company's stock were exchanged, compared to its average volume of 93,669. The company has a market capitalization of $168.23 million, a P/E ratio of 6.85 and a beta of 0.80. Geospace Technologies has a 12 month low of $6.60 and a 12 month high of $17.09. The business's 50-day simple moving average is $12.77 and its two-hundred day simple moving average is $12.85.
Geospace Technologies (NASDAQ:GEOS - Get Free Report) last issued its earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 earnings per share for the quarter. The firm had revenue of $50.03 million during the quarter. Geospace Technologies had a net margin of 17.42% and a return on equity of 18.73%.
Insider Buying and Selling
In related news, SVP Robbin B. Adams sold 2,078 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $12.29, for a total value of $25,538.62. Following the completion of the transaction, the senior vice president now owns 79,739 shares of the company's stock, valued at approximately $979,992.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 4,240 shares of company stock valued at $52,124. Company insiders own 6.89% of the company's stock.
Hedge Funds Weigh In On Geospace Technologies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEOS. G2 Investment Partners Management LLC acquired a new position in Geospace Technologies in the 4th quarter worth approximately $5,297,000. Gate City Capital Management LLC acquired a new stake in shares of Geospace Technologies during the 4th quarter valued at $4,270,000. Glenorchy Capital Ltd acquired a new stake in shares of Geospace Technologies during the 4th quarter valued at $2,140,000. Hillsdale Investment Management Inc. boosted its stake in shares of Geospace Technologies by 1,067.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 162,242 shares of the oil and gas company's stock valued at $2,103,000 after buying an additional 148,342 shares during the period. Finally, EAM Investors LLC acquired a new stake in shares of Geospace Technologies during the 3rd quarter valued at $1,769,000. Institutional investors and hedge funds own 57.15% of the company's stock.
About Geospace Technologies
(
Get Free Report)
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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