Geospace Technologies (NASDAQ:GEOS) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Geospace Technologies Co. (NASDAQ:GEOS)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.23 and traded as high as $10.31. Geospace Technologies shares last traded at $10.17, with a volume of 24,726 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Geospace Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th.

Geospace Technologies Stock Up 1.6 %

The firm has a market cap of $129.25 million, a P/E ratio of -18.83 and a beta of 0.60. The business’s 50 day moving average is $11.36 and its two-hundred day moving average is $10.23.

Institutional Investors Weigh In On Geospace Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in GEOS. Acadian Asset Management LLC boosted its stake in shares of Geospace Technologies by 18.1% in the 2nd quarter. Acadian Asset Management LLC now owns 226,366 shares of the oil and gas company’s stock worth $2,027,000 after buying an additional 34,762 shares during the last quarter. Grace & White Inc. NY grew its stake in Geospace Technologies by 15.3% in the 3rd quarter. Grace & White Inc. NY now owns 216,096 shares of the oil and gas company’s stock valued at $2,234,000 after buying an additional 28,752 shares in the last quarter. Glenorchy Capital Ltd raised its stake in shares of Geospace Technologies by 2.7% during the 3rd quarter. Glenorchy Capital Ltd now owns 186,217 shares of the oil and gas company’s stock valued at $1,925,000 after purchasing an additional 4,824 shares during the period. State Street Corp increased its position in shares of Geospace Technologies by 12.4% during the third quarter. State Street Corp now owns 167,497 shares of the oil and gas company’s stock valued at $1,732,000 after buying an additional 18,469 shares during the period. Finally, De Lisle Partners LLP lifted its stake in Geospace Technologies by 4.7% in the 3rd quarter. De Lisle Partners LLP now owns 144,234 shares of the oil and gas company’s stock worth $1,496,000 after purchasing an additional 6,486 shares in the last quarter. Institutional investors and hedge funds own 57.15% of the company’s stock.

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.