Geospace Technologies (NASDAQ:GEOS) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a strong sell rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Geospace Technologies in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Geospace Technologies currently has a consensus rating of “Sell”.

Geospace Technologies Stock Up 7.7%

Geospace Technologies stock opened at $9.69 on Friday. The firm has a market capitalization of $124.90 million, a PE ratio of -4.44 and a beta of 0.46. The firm’s 50-day simple moving average is $16.97 and its 200 day simple moving average is $18.73. Geospace Technologies has a 52 week low of $5.51 and a 52 week high of $29.89.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.76) EPS for the quarter. Geospace Technologies had a negative net margin of 28.10% and a negative return on equity of 21.91%. The business had revenue of $25.59 million during the quarter.

Institutional Investors Weigh In On Geospace Technologies

A number of large investors have recently modified their holdings of the stock. State Street Corp grew its holdings in Geospace Technologies by 118.3% during the 4th quarter. State Street Corp now owns 125,936 shares of the oil and gas company’s stock valued at $2,130,000 after purchasing an additional 68,247 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Geospace Technologies in the third quarter valued at approximately $1,014,000. Brooklyn Investment Group acquired a new position in Geospace Technologies during the 4th quarter valued at approximately $762,000. Goldman Sachs Group Inc. grew its position in shares of Geospace Technologies by 229.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 60,136 shares of the oil and gas company’s stock worth $1,017,000 after acquiring an additional 41,865 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Geospace Technologies by 8.9% in the second quarter. First Eagle Investment Management LLC now owns 509,364 shares of the oil and gas company’s stock valued at $7,264,000 after purchasing an additional 41,477 shares during the period. Institutional investors and hedge funds own 57.15% of the company’s stock.

Geospace Technologies Company Profile

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.