StockNews.com Downgrades Geospace Technologies (NASDAQ:GEOS) to Buy

Geospace Technologies (NASDAQ:GEOSGet Free Report) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Separately, TheStreet raised shares of Geospace Technologies from a “c” rating to a “b-” rating in a report on Thursday, November 16th.

Check Out Our Latest Report on GEOS

Geospace Technologies Stock Performance

GEOS traded down $0.37 during trading on Wednesday, reaching $12.31. 39,241 shares of the company’s stock were exchanged, compared to its average volume of 134,696. The company’s fifty day moving average price is $13.67 and its 200-day moving average price is $12.34. Geospace Technologies has a fifty-two week low of $5.27 and a fifty-two week high of $17.09. The firm has a market capitalization of $163.97 million, a PE ratio of 6.62 and a beta of 0.83.

Insider Activity

In related news, SVP Robbin B. Adams sold 2,078 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $12.29, for a total value of $25,538.62. Following the sale, the senior vice president now directly owns 79,739 shares of the company’s stock, valued at approximately $979,992.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 4,240 shares of company stock valued at $52,124 in the last quarter. Company insiders own 6.89% of the company’s stock.

Institutional Investors Weigh In On Geospace Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. G2 Investment Partners Management LLC acquired a new position in shares of Geospace Technologies during the 4th quarter worth about $5,297,000. Gate City Capital Management LLC acquired a new position in shares of Geospace Technologies during the 4th quarter worth about $4,270,000. Glenorchy Capital Ltd acquired a new stake in Geospace Technologies in the 4th quarter valued at about $2,140,000. Hillsdale Investment Management Inc. lifted its stake in Geospace Technologies by 1,067.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 162,242 shares of the oil and gas company’s stock valued at $2,103,000 after purchasing an additional 148,342 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in Geospace Technologies in the 3rd quarter valued at about $1,769,000. 41.98% of the stock is owned by institutional investors.

Geospace Technologies Company Profile

(Get Free Report)

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.

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