Geospace Technologies Corp. (GEOS) Shares Down 4.9%
Geospace Technologies Corp. (NASDAQ:GEOS) traded down 4.9% during mid-day trading on Monday . The company traded as low as $15.53 and last traded at $15.69, with a volume of 71,366 shares changing hands. The stock had previously closed at $16.50.
The stock’s 50 day moving average price is $16.70 and its 200-day moving average price is $14.25. The company’s market capitalization is $209.12 million.
Geospace Technologies Corp. (NASDAQ:GEOS) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.84) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.17. The business had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $21.70 million. Geospace Technologies Corp.’s revenue was down 46.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) EPS. Analysts anticipate that Geospace Technologies Corp. will post ($2.60) earnings per share for the current year.
A hedge fund recently raised its stake in Geospace Technologies Corp. stock. Eagle Asset Management raised its stake in shares of Geospace Technologies Corp. (NASDAQ:GEOS) by 19.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,857,818 shares of the company’s stock after buying an additional 298,120 shares during the period. Eagle Asset Management owned approximately 14.13% of Geospace Technologies Corp. worth $25,656,000 as of its most recent SEC filing.
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 in two segments: Seismic and Non-Seismic. Its seismic product lines consist of land and marine nodal data acquisition systems, permanent land and seabed reservoir monitoring products and services, geophones and geophone strings, hydrophones, leader wire, connectors, telemetry cables, marine streamer retrieval and steering devices, and various other products.
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