Geospace Technologies Corp. (GEOS) Shares Gap Up to $16.85
Shares of Geospace Technologies Corp. (NASDAQ:GEOS) gapped up before the market opened on Wednesday . The stock had previously closed at $16.70, but opened at $16.85. Geospace Technologies Corp. shares last traded at $17.65, with a volume of 25,338 shares.
The firm has a 50 day moving average of $17.54 and a 200 day moving average of $16.09. The stock’s market cap is $235.57 million.
Geospace Technologies Corp. (NASDAQ:GEOS) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by $0.32. Geospace Technologies Corp. had a negative net margin of 76.29% and a negative return on equity of 16.59%. The firm earned $17.70 million during the quarter, compared to the consensus estimate of $15.05 million. During the same period last year, the business earned ($0.66) EPS. The business’s revenue was down 10.2% on a year-over-year basis. Equities analysts predict that Geospace Technologies Corp. will post ($2.41) EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. BlackRock Group LTD boosted its stake in Geospace Technologies Corp. by 16.4% in the first quarter. BlackRock Group LTD now owns 12,685 shares of the company’s stock worth $157,000 after buying an additional 1,785 shares in the last quarter. Paloma Partners Management Co bought a new stake in Geospace Technologies Corp. during the second quarter worth about $172,000. Metropolitan Life Insurance Co. NY bought a new stake in Geospace Technologies Corp. during the second quarter worth about $202,000. Virginia Retirement Systems ET AL bought a new stake in Geospace Technologies Corp. during the second quarter worth about $252,000. Finally, Brandes Investment Partners LP bought a new stake in Geospace Technologies Corp. during the second quarter worth about $269,000. Institutional investors own 89.11% of the company’s stock.
Geospace Technologies Corp. 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 in two segments: Seismic and Non-Seismic. Its seismic product lines consist of land and marine nodal data acquisition systems, permanent land and seabed reservoir monitoring products and services, geophones and geophone strings, hydrophones, leader wire, connectors, telemetry cables, marine streamer retrieval and steering devices, and various other products.
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