Essex Investment Management Co. LLC Sells 2,257 Shares of Geospace Technologies Co. (NASDAQ:GEOS)

Essex Investment Management Co. LLC lessened its stake in shares of Geospace Technologies Co. (NASDAQ:GEOS) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,497 shares of the oil and gas company’s stock after selling 2,257 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.15% of Geospace Technologies worth $195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Peapod Lane Capital LLC bought a new stake in Geospace Technologies during the fourth quarter valued at about $2,542,000. US Bancorp DE lifted its position in Geospace Technologies by 120.0% during the third quarter. US Bancorp DE now owns 71,033 shares of the oil and gas company’s stock valued at $734,000 after acquiring an additional 38,752 shares during the last quarter. State Street Corp boosted its stake in Geospace Technologies by 12.4% in the third quarter. State Street Corp now owns 167,497 shares of the oil and gas company’s stock valued at $1,732,000 after acquiring an additional 18,469 shares in the last quarter. Empowered Funds LLC boosted its stake in Geospace Technologies by 59.2% in the third quarter. Empowered Funds LLC now owns 46,002 shares of the oil and gas company’s stock valued at $476,000 after acquiring an additional 17,098 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Geospace Technologies by 278.2% during the third quarter. Barclays PLC now owns 16,622 shares of the oil and gas company’s stock worth $172,000 after purchasing an additional 12,227 shares in the last quarter. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Geospace Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th.

Geospace Technologies Stock Performance

Shares of GEOS stock opened at $7.47 on Monday. Geospace Technologies Co. has a fifty-two week low of $7.29 and a fifty-two week high of $14.83. The firm has a market capitalization of $95.44 million, a price-to-earnings ratio of -9.00 and a beta of 0.57. The stock’s 50-day simple moving average is $9.11 and its 200-day simple moving average is $10.22.

Geospace Technologies (NASDAQ:GEOS) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.65 earnings per share for the quarter. Geospace Technologies had a negative net margin of 8.86% and a positive return on equity of 4.61%.

Geospace Technologies 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.