Acuitas Investments LLC Decreases Stock Position in Geospace Technologies Co. (NASDAQ:GEOS)

Acuitas Investments LLC cut its stake in Geospace Technologies Co. (NASDAQ:GEOS) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 223,669 shares of the oil and gas company’s stock after selling 3,402 shares during the period. Geospace Technologies comprises about 1.4% of Acuitas Investments LLC’s holdings, making the stock its 24th largest holding. Acuitas Investments LLC’s holdings in Geospace Technologies were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC purchased a new position in Geospace Technologies in the third quarter valued at $109,000. O Shaughnessy Asset Management LLC purchased a new position in Geospace Technologies in the third quarter valued at $133,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Geospace Technologies in the third quarter valued at $143,000. Citigroup Inc. acquired a new stake in Geospace Technologies in the third quarter valued at $153,000. Finally, Ritholtz Wealth Management acquired a new stake in Geospace Technologies in the fourth quarter valued at $250,000. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

Geospace Technologies Stock Down 0.4 %

Geospace Technologies stock traded down $0.05 during midday trading on Wednesday, reaching $12.48. The company’s stock had a trading volume of 33,195 shares, compared to its average volume of 96,719. Geospace Technologies Co. has a fifty-two week low of $6.60 and a fifty-two week high of $17.09. The company has a market cap of $166.20 million, a P/E ratio of 6.71 and a beta of 0.78. The business has a 50-day simple moving average of $12.76 and a 200-day simple moving average of $12.87.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 earnings per share for the quarter. Geospace Technologies had a return on equity of 18.73% and a net margin of 17.42%. The company had revenue of $50.03 million for the quarter.

Insider Buying and Selling at Geospace Technologies

In other news, SVP Robbin B. Adams sold 2,078 shares of Geospace Technologies stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $12.29, for a total transaction of $25,538.62. Following the sale, the senior vice president now owns 79,739 shares in the company, valued at $979,992.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 4,240 shares of company stock worth $52,124 over the last ninety days. Corporate insiders own 6.89% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Geospace Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

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.