Geospace Technologies (NASDAQ:GEOS) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Geospace Technologies Corporation (NASDAQ:GEOS)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.21 and traded as low as $6.97. Geospace Technologies shares last traded at $7.03, with a volume of 79,446 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GEOS. Wall Street Zen upgraded Geospace Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Geospace Technologies presently has an average rating of “Sell”.

Geospace Technologies Price Performance

The firm’s fifty day moving average is $7.57 and its two-hundred day moving average is $11.14. The firm has a market capitalization of $87.96 million, a PE ratio of -3.00 and a beta of 0.20.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.86) EPS for the quarter. Geospace Technologies had a negative net margin of 28.86% and a negative return on equity of 24.22%. The firm had revenue of $19.74 million during the quarter.

Institutional Investors Weigh In On Geospace Technologies

Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in Geospace Technologies in the second quarter worth about $51,000. BNP Paribas Financial Markets lifted its holdings in shares of Geospace Technologies by 670.8% in the third quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company’s stock worth $65,000 after buying an additional 3,005 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Geospace Technologies in the fourth quarter valued at approximately $67,000. Charles Schwab Investment Management Inc. purchased a new position in Geospace Technologies during the fourth quarter valued at approximately $176,000. Finally, Balyasny Asset Management L.P. bought a new stake in Geospace Technologies during the 4th quarter worth approximately $178,000. 57.15% of the stock is owned by hedge funds and other institutional investors.

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.