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

Key Points

• Geospace Technologies shares fell below their 200-day moving average, reaching $4.55 and last trading at $4.60 versus the $7.19 average, on volume of approximately 94,067 shares.
• Analysts remain bearish: Weiss Ratings and Wall Street Zen downgraded the stock, while MarketBeat reports an average rating of “Sell.”
• The company reported a quarterly loss of $0.75 per share on $15.8 million in revenue, alongside a negative 43.1% net margin and 35.8% negative return on equity; institutional investors own 57.15% of the stock.

Shares of Geospace Technologies Corporation (NASDAQ:GEOS - Get Free Report) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.19 and traded as low as $4.55. Geospace Technologies shares last traded at $4.60, with a volume of 94,067 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on GEOS. Weiss Ratings downgraded Geospace Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, October 8th. Wall Street Zen downgraded Geospace Technologies from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Geospace Technologies currently has an average rating of "Sell".

Geospace Technologies Stock Performance

The business's 50-day moving average is $5.18 and its two-hundred day moving average is $7.19. The stock has a market capitalization of $59.52 million, a PE ratio of -1.49 and a beta of 0.13.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($0.75) EPS for the quarter. The firm had revenue of $15.80 million for the quarter. Geospace Technologies had a negative return on equity of 35.80% and a negative net margin of 43.10%.

Institutional Trading of Geospace Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in GEOS. AXQ Capital LP acquired a new stake in Geospace Technologies in the second quarter valued at about $133,000. Kingsview Wealth Management LLC purchased a new stake in Geospace Technologies in the 2nd quarter valued at approximately $212,000. Empowered Funds LLC purchased a new stake in Geospace Technologies in the 2nd quarter valued at approximately $137,000. Elevation Point Wealth Partners LLC purchased a new stake in Geospace Technologies in the 2nd quarter valued at approximately $165,000. Finally, De Lisle Partners LLP purchased a new stake in Geospace Technologies in the 2nd quarter valued at approximately $998,000. Hedge funds and other institutional investors own 57.15% of the company's stock.

About Geospace Technologies

Geospace Technologies Corporation is a Houston-based technology company that develops and manufactures equipment used to acquire and monitor seismic data. Its products support onshore, offshore and ocean-bottom seismic surveys, which help energy companies and geophysical contractors evaluate subsurface formations for oil and natural gas exploration, field development and reservoir management.

The company's offerings include wireless and cable-based seismic data acquisition systems, seismic sensors and geophones, recording equipment, ocean-bottom nodes and related hardware and software.

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