Geospace Technologies (NASDAQ:GEOS) Upgraded to Strong-Buy at StockNews.com

Geospace Technologies (NASDAQ:GEOS) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

Geospace Technologies Stock Up 2.3 %

Shares of Geospace Technologies stock traded up $0.28 during midday trading on Tuesday, hitting $12.53. The company had a trading volume of 49,144 shares, compared to its average volume of 97,534. The stock has a market cap of $166.90 million, a price-to-earnings ratio of 6.74 and a beta of 0.78. The company has a fifty day simple moving average of $12.76 and a 200 day simple moving average of $12.87. Geospace Technologies has a 12-month low of $6.60 and a 12-month high of $17.09.

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

Insiders Place Their Bets

In other Geospace Technologies news, SVP Robbin B. Adams sold 2,078 shares of Geospace Technologies stock in a transaction on Wednesday, February 14th. The shares were 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 of the company’s stock, valued at approximately $979,992.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 4,240 shares of company stock valued at $52,124. 6.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC purchased a new position in shares of Geospace Technologies during the 3rd quarter worth $109,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Geospace Technologies during the 3rd quarter worth $133,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Geospace Technologies during the 3rd quarter worth $143,000. Citigroup Inc. purchased a new position in shares of Geospace Technologies during the 3rd quarter worth $153,000. Finally, Trexquant Investment LP purchased a new stake in Geospace Technologies in the 4th quarter valued at about $153,000. Hedge funds and other institutional investors own 57.15% of the company’s stock.

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.