Geospace Technologies (NASDAQ:GEOS) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Geospace Technologies Co. (NASDAQ:GEOS) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.23 and traded as high as $10.31. Geospace Technologies shares last traded at $10.17, with a volume of 24,726 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com raised Geospace Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th.

Geospace Technologies Trading Up 1.6 %

The firm’s fifty day simple moving average is $11.34 and its two-hundred day simple moving average is $10.23. The company has a market capitalization of $131.28 million, a price-to-earnings ratio of -19.13 and a beta of 0.60.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GEOS. BNP Paribas Financial Markets lifted 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 last quarter. WINTON GROUP Ltd purchased a new stake in Geospace Technologies in the 2nd quarter valued at about $113,000. EagleClaw Capital Managment LLC acquired a new position in Geospace Technologies in the third quarter valued at about $114,000. Rhumbline Advisers boosted its stake in Geospace Technologies by 2,370.7% during the second quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock worth $133,000 after buying an additional 14,224 shares during the period. Finally, Barclays PLC increased its position in shares of Geospace Technologies by 278.2% during the third quarter. Barclays PLC now owns 16,622 shares of the oil and gas company’s stock valued at $172,000 after acquiring an additional 12,227 shares during the last quarter. 57.15% of the stock is currently owned by hedge funds and other 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.