Geospace Technologies (NASDAQ:GEOS) Issues Quarterly Earnings Results

Geospace Technologies (NASDAQ:GEOS) issued its quarterly earnings results on Wednesday. The oil and gas company reported ($0.76) earnings per share (EPS) for the quarter, Zacks reports. Geospace Technologies had a negative return on equity of 7.26% and a negative net margin of 8.78%.The firm had revenue of $25.59 million during the quarter.

Geospace Technologies Price Performance

Shares of NASDAQ:GEOS traded down $2.04 on Wednesday, reaching $16.00. The company’s stock had a trading volume of 269,284 shares, compared to its average volume of 225,433. Geospace Technologies has a 52-week low of $5.51 and a 52-week high of $29.89. The stock has a market capitalization of $206.24 million, a P/E ratio of -20.78 and a beta of 0.46. The stock’s 50-day moving average is $17.39 and its two-hundred day moving average is $18.91.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GEOS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Geospace Technologies in a research report on Monday, December 29th. Wall Street Zen cut Geospace Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Geospace Technologies

A number of hedge funds have recently added to or reduced their stakes in GEOS. Glenorchy Capital Ltd lifted its holdings in shares of Geospace Technologies by 1.0% during the second quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock worth $2,765,000 after purchasing an additional 1,946 shares during the period. BNP Paribas Financial Markets increased its position in Geospace Technologies by 670.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 3,005 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Geospace Technologies during the 2nd quarter worth approximately $51,000. Empowered Funds LLC lifted its holdings in shares of Geospace Technologies by 8.2% in the 1st quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 3,969 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Geospace Technologies by 3.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 131,478 shares of the oil and gas company’s stock valued at $1,875,000 after buying an additional 4,855 shares during the period. 57.15% of the stock is owned by institutional investors and hedge funds.

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.