Wall Street Zen Downgrades Geospace Technologies (NASDAQ:GEOS) to Strong Sell

Geospace Technologies (NASDAQ:GEOS) was downgraded by Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Geospace Technologies in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Geospace Technologies Stock Up 7.7%

NASDAQ:GEOS opened at $9.69 on Friday. The stock has a market capitalization of $124.88 million, a price-to-earnings ratio of -4.44 and a beta of 0.46. Geospace Technologies has a 52 week low of $5.51 and a 52 week high of $29.89. The firm has a 50 day moving average of $16.97 and a 200 day moving average of $18.71.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.76) earnings per share (EPS) for the quarter. Geospace Technologies had a negative return on equity of 21.91% and a negative net margin of 28.10%.The firm had revenue of $25.59 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC boosted its position in Geospace Technologies by 8.2% in the first quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 3,969 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Geospace Technologies during the 2nd quarter worth approximately $288,000. First Eagle Investment Management LLC lifted its stake in Geospace Technologies by 8.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 509,364 shares of the oil and gas company’s stock valued at $7,264,000 after acquiring an additional 41,477 shares during the period. Glenorchy Capital Ltd boosted its holdings in shares of Geospace Technologies by 1.0% in the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock valued at $2,765,000 after acquiring an additional 1,946 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Geospace Technologies in the 2nd quarter valued at $51,000. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

About Geospace Technologies

Geospace Technologies Corporation specializes in the design, manufacturing and marketing of geophysical instrumentation for seismic data acquisition. The company’s solutions address the needs of oil and gas exploration and production companies by enabling detailed subsurface imaging through advanced sensor and acquisition systems. Geospace serves both land and marine seismic markets, offering equipment that meets the rigorous demands of contemporary seismic surveys.

In its Land Products segment, Geospace Technologies offers a range of components including geophones, accelerometers, cable and recorder accessories designed to collect high-quality seismic signals in onshore environments.