Geospace Technologies (NASDAQ:GEOS) Stock Rating Upgraded by StockNews.com

Geospace Technologies (NASDAQ:GEOS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Geospace Technologies Stock Up 9.6 %

Shares of GEOS stock opened at $13.62 on Wednesday. Geospace Technologies has a 12-month low of $8.09 and a 12-month high of $17.09. The firm has a market capitalization of $175.82 million, a price-to-earnings ratio of 17.24 and a beta of 0.62. The firm has a fifty day moving average of $11.23 and a 200-day moving average of $10.24.

Hedge Funds Weigh In On Geospace Technologies

Large investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new stake in Geospace Technologies in the 1st quarter valued at approximately $215,000. Acadian Asset Management LLC boosted its stake in shares of Geospace Technologies by 11.4% during the 1st quarter. Acadian Asset Management LLC now owns 191,604 shares of the oil and gas company’s stock worth $2,524,000 after buying an additional 19,660 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Geospace Technologies by 69.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 69,558 shares of the oil and gas company’s stock valued at $917,000 after acquiring an additional 28,539 shares during the last quarter. Grace & White Inc. NY grew its stake in Geospace Technologies by 215.6% in the second quarter. Grace & White Inc. NY now owns 187,344 shares of the oil and gas company’s stock valued at $1,682,000 after purchasing an additional 127,974 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Geospace Technologies during the 2nd quarter worth approximately $314,000. Institutional investors own 57.15% of the company’s stock.

Geospace Technologies Company Profile

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.