Geospace Technologies (NASDAQ:GEOS) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a sell rating to a hold rating in a research note published on Wednesday.

Geospace Technologies Stock Performance

Shares of GEOS stock opened at $11.27 on Wednesday. Geospace Technologies has a 52 week low of $8.09 and a 52 week high of $17.09. The company’s 50 day moving average price is $11.32 and its two-hundred day moving average price is $10.24. The company has a market capitalization of $145.50 million, a P/E ratio of -20.87 and a beta of 0.62.

Institutional Investors Weigh In On Geospace Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of Geospace Technologies by 40.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 872 shares during the period. WINTON GROUP Ltd acquired a new stake in Geospace Technologies in the 2nd quarter valued at approximately $113,000. EagleClaw Capital Managment LLC bought a new stake in Geospace Technologies in the 3rd quarter valued at approximately $114,000. Rhumbline Advisers boosted its position in Geospace Technologies by 2,370.7% during the 2nd quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 14,224 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Geospace Technologies by 278.2% during the 3rd quarter. Barclays PLC now owns 16,622 shares of the oil and gas company’s stock worth $172,000 after acquiring an additional 12,227 shares in the last quarter. 57.15% of the stock is owned by 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.