Geospace Technologies (NASDAQ:GEOS) Posts Quarterly Earnings Results

Geospace Technologies (NASDAQ:GEOS) announced its earnings results on Thursday. The oil and gas company reported ($0.86) earnings per share for the quarter, FiscalAI reports. Geospace Technologies had a negative net margin of 28.86% and a negative return on equity of 23.25%. The firm had revenue of $19.74 million during the quarter.

Geospace Technologies Stock Down 1.2%

Shares of Geospace Technologies stock traded down $0.10 during midday trading on Friday, hitting $8.40. The company had a trading volume of 573,790 shares, compared to its average volume of 202,799. The stock has a market cap of $108.28 million, a price-to-earnings ratio of -3.70 and a beta of 0.20. The company has a fifty day simple moving average of $10.54 and a 200 day simple moving average of $15.35. Geospace Technologies has a 12-month low of $5.51 and a 12-month high of $29.89.

Hedge Funds Weigh In On Geospace Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its position in shares of Geospace Technologies by 14,530.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,463 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 1,453 shares during the last quarter. Glenorchy Capital Ltd raised its position in shares of Geospace Technologies by 1.0% in the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock valued at $2,765,000 after purchasing an additional 1,946 shares during the last quarter. De Lisle Partners LLP raised its position in shares of Geospace Technologies by 2.0% in the 4th quarter. De Lisle Partners LLP now owns 147,133 shares of the oil and gas company’s stock valued at $2,482,000 after purchasing an additional 2,899 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Geospace Technologies by 670.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 3,005 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Geospace Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 146,107 shares of the oil and gas company’s stock valued at $2,472,000 after purchasing an additional 3,507 shares during the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GEOS. Wall Street Zen downgraded shares of Geospace Technologies from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Geospace Technologies in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

About Geospace Technologies

Geospace Technologies Corporation specializes in the design, manufacturing and marketing of geophysical instrumentation for seismic data acquisition. The company’s solutions address the needs of oil and gas exploration and production companies by enabling detailed subsurface imaging through advanced sensor and acquisition systems. Geospace serves both land and marine seismic markets, offering equipment that meets the rigorous demands of contemporary seismic surveys.

In its Land Products segment, Geospace Technologies offers a range of components including geophones, accelerometers, cable and recorder accessories designed to collect high-quality seismic signals in onshore environments.