Tieton Capital Management LLC acquired a new position in shares of Geospace Technologies Corporation (NASDAQ:GEOS – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 907,265 shares of the oil and gas company’s stock, valued at approximately $6,142,000. Geospace Technologies accounts for about 1.8% of Tieton Capital Management LLC’s holdings, making the stock its 26th largest holding. Tieton Capital Management LLC owned 7.01% of Geospace Technologies at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Geospace Technologies during the second quarter valued at about $1,569,000. Sei Investments Co. increased its stake in shares of Geospace Technologies by 108.6% in the first quarter. Sei Investments Co. now owns 410,906 shares of the oil and gas company’s stock worth $5,013,000 after purchasing an additional 213,950 shares during the period. Grace & White Inc. NY lifted its position in shares of Geospace Technologies by 53.7% during the 1st quarter. Grace & White Inc. NY now owns 473,201 shares of the oil and gas company’s stock worth $5,773,000 after purchasing an additional 165,406 shares during the last quarter. Robotti Robert acquired a new position in shares of Geospace Technologies during the 2nd quarter worth about $870,000. Finally, State Street Corp grew its stake in shares of Geospace Technologies by 118.3% in the fourth quarter. State Street Corp now owns 125,936 shares of the oil and gas company’s stock worth $2,130,000 after acquiring an additional 68,247 shares during the last quarter. 57.15% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GEOS has been the subject of a number of research reports. Weiss Ratings raised shares of Geospace Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Wall Street Zen cut shares of Geospace Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.
Geospace Technologies Stock Performance
Shares of GEOS stock opened at $5.53 on Thursday. Geospace Technologies Corporation has a 52-week low of $5.05 and a 52-week high of $29.89. The stock has a market cap of $71.56 million, a price-to-earnings ratio of -1.80 and a beta of 0.19. The firm has a fifty day moving average of $6.75 and a 200-day moving average of $8.89.
Geospace Technologies (NASDAQ:GEOS – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($0.75) EPS for the quarter. The business had revenue of $15.80 million for the quarter. Geospace Technologies had a negative return on equity of 35.80% and a negative net margin of 43.10%.
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.
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