Geospace Technologies (NASDAQ:GEOS) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a buy rating to a strong-buy rating in a report published on Tuesday morning.

Geospace Technologies Stock Performance

Shares of NASDAQ GEOS opened at $12.64 on Tuesday. The company has a market cap of $168.36 million, a PE ratio of 6.80 and a beta of 0.78. The business has a 50-day simple moving average of $12.79 and a two-hundred day simple moving average of $12.87. Geospace Technologies has a fifty-two week low of $6.60 and a fifty-two week high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last announced its quarterly earnings data on Wednesday, February 7th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter. Geospace Technologies had a return on equity of 18.73% and a net margin of 17.42%. The firm had revenue of $50.03 million during the quarter.

Insider Transactions at Geospace Technologies

In other news, SVP Robbin B. Adams sold 2,078 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $12.29, for a total value of $25,538.62. Following the completion of the transaction, the senior vice president now directly owns 79,739 shares in the company, valued at $979,992.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 4,240 shares of company stock worth $52,124 over the last three months. 6.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Barclays PLC purchased a new position in Geospace Technologies during the third quarter valued at approximately $109,000. O Shaughnessy Asset Management LLC purchased a new position in Geospace Technologies during the third quarter valued at approximately $133,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Geospace Technologies during the third quarter valued at approximately $143,000. Citigroup Inc. purchased a new position in Geospace Technologies during the third quarter valued at approximately $153,000. Finally, Trexquant Investment LP purchased a new position in Geospace Technologies during the fourth quarter valued at approximately $153,000. 57.15% of the stock is currently owned by hedge funds and other 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.