Geospace Technologies (NASDAQ:GEOS) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Geospace Technologies (NASDAQ:GEOS – Get Rating) in a report released on Thursday. The firm issued a buy rating on the oil and gas company’s stock.

Geospace Technologies Stock Up 2.5 %

NASDAQ:GEOS traded up $0.14 during trading hours on Thursday, reaching $5.80. 266,215 shares of the company traded hands, compared to its average volume of 49,714. The business’s 50-day moving average price is $5.40 and its two-hundred day moving average price is $4.76. Geospace Technologies has a 1 year low of $3.76 and a 1 year high of $7.17.

Insider Transactions at Geospace Technologies

In other Geospace Technologies news, Director Gary D. Owens purchased 12,823 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was purchased at an average price of $5.48 per share, for a total transaction of $70,270.04. Following the completion of the purchase, the director now directly owns 309,623 shares of the company’s stock, valued at $1,696,734.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Geospace Technologies news, Director Gary D. Owens purchased 12,823 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was purchased at an average price of $5.48 per share, for a total transaction of $70,270.04. Following the completion of the purchase, the director now directly owns 309,623 shares of the company’s stock, valued at $1,696,734.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary D. Owens purchased 10,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was acquired at an average price of $5.50 per share, with a total value of $55,000.00. Following the purchase, the director now directly owns 296,800 shares of the company’s stock, valued at $1,632,400. The disclosure for this purchase can be found here. Company insiders own 6.75% of the company’s stock.

Institutional Trading of Geospace Technologies

Several large investors have recently modified their holdings of GEOS. Prelude Capital Management LLC bought a new stake in shares of Geospace Technologies in the first quarter worth $58,000. Eagle Asset Management Inc. grew its holdings in shares of Geospace Technologies by 78.5% in the second quarter. Eagle Asset Management Inc. now owns 213,751 shares of the oil and gas company’s stock worth $1,013,000 after acquiring an additional 93,999 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Geospace Technologies in the second quarter worth $448,000. Marquette Asset Management LLC grew its holdings in shares of Geospace Technologies by 38.5% in the third quarter. Marquette Asset Management LLC now owns 64,960 shares of the oil and gas company’s stock worth $286,000 after acquiring an additional 18,065 shares during the period. Finally, Mraz Amerine & Associates Inc. grew its holdings in shares of Geospace Technologies by 37.1% in the third quarter. Mraz Amerine & Associates Inc. now owns 33,406 shares of the oil and gas company’s stock worth $147,000 after acquiring an additional 9,036 shares during the period. Institutional investors own 49.29% of the company’s stock.

About Geospace Technologies

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Geospace Technologies Corp. designs and manufactures instruments and equipment used in the oil and gas industry for acquisition and processing of seismic data. It operates through the following business segments: Oil &Gas Markets, Adjacent Markets and Emerging Markets. The Oil & Gas Markets segments products include wireless seismic data acquisition systems, reservoir characterization products and services, and traditional seismic exploration products such as geophones, hydrophones, leader wire, connectors, cables, marine streamer retrieval and steering devices and various other seismic products.