Geospace Technologies (NASDAQ:GEOS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a sell rating to a hold rating in a report released on Thursday morning.

Geospace Technologies Trading Down 4.2 %

Shares of NASDAQ GEOS opened at $10.53 on Thursday. Geospace Technologies has a one year low of $8.09 and a one year high of $17.09. The firm has a market capitalization of $133.84 million, a PE ratio of -19.50 and a beta of 0.62. The business has a 50-day moving average price of $11.34 and a two-hundred day moving average price of $10.19.

Institutional Investors Weigh In On Geospace Technologies

Several institutional investors have recently made changes to their positions in GEOS. Grace & White Inc. NY lifted its holdings in shares of Geospace Technologies by 215.6% during the 2nd quarter. Grace & White Inc. NY now owns 187,344 shares of the oil and gas company’s stock valued at $1,682,000 after buying an additional 127,974 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Geospace Technologies during the 2nd quarter valued at about $314,000. Rhumbline Advisers lifted its holdings in shares of 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 valued at $133,000 after buying an additional 14,224 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Geospace Technologies by 18.1% during the 2nd quarter. Acadian Asset Management LLC now owns 226,366 shares of the oil and gas company’s stock valued at $2,027,000 after buying an additional 34,762 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Geospace Technologies during the 2nd quarter valued at about $113,000. 57.15% of the stock is currently owned by institutional investors and hedge funds.

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.