Geospace Technologies (GEOS) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Geospace Technologies (NASDAQ:GEOS) from a hold rating to a buy rating in a research note released on Thursday.

Separately, Singular Research began coverage on shares of Geospace Technologies in a research note on Tuesday, July 24th. They issued a buy rating and a $17.25 price target for the company.

Geospace Technologies stock traded up $0.05 during trading on Thursday, reaching $13.09. The stock had a trading volume of 12,355 shares, compared to its average volume of 61,979. Geospace Technologies has a 52-week low of $9.18 and a 52-week high of $17.03.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter. Geospace Technologies had a negative return on equity of 20.62% and a negative net margin of 48.46%. The firm had revenue of $21.27 million during the quarter.

In related news, insider Robbin B. Adams sold 3,500 shares of Geospace Technologies stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $13.20, for a total value of $46,200.00. Following the completion of the transaction, the insider now owns 31,500 shares in the company, valued at $415,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.92% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Geospace Technologies by 2.7% during the 1st quarter. BlackRock Inc. now owns 1,713,142 shares of the oil and gas company’s stock worth $16,909,000 after buying an additional 45,370 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Geospace Technologies by 471.7% during the 1st quarter. JPMorgan Chase & Co. now owns 52,178 shares of the oil and gas company’s stock worth $515,000 after buying an additional 43,051 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Geospace Technologies by 14.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 571,185 shares of the oil and gas company’s stock worth $5,638,000 after buying an additional 73,711 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Geospace Technologies during the 2nd quarter worth approximately $390,000. Finally, LMR Partners LLP purchased a new stake in shares of Geospace Technologies during the 2nd quarter worth approximately $521,000. Institutional investors own 61.36% 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 two segments, Seismic and Non-Seismic. The Seismic segment offers land and marine nodal data acquisition systems, permanent land and seabed reservoir monitoring products and services, geophones and geophone strings, hydrophones, leader wires, connectors, telemetry cables, marine streamer retrieval and steering devices, multi-component sensors, seismic borehole acquisition systems, and various other products.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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