Geospace Technologies (NASDAQ:GEOS) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Geospace Technologies Co. (NASDAQ:GEOS)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.22 and traded as high as $13.58. Geospace Technologies shares last traded at $13.13, with a volume of 41,900 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Geospace Technologies from a “hold” rating to a “sell” rating in a report on Thursday, October 24th.

Geospace Technologies Price Performance

The stock’s fifty day simple moving average is $10.66 and its two-hundred day simple moving average is $10.22. The company has a market capitalization of $169.51 million, a price-to-earnings ratio of 16.62 and a beta of 0.62.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.16) earnings per share for the quarter. Geospace Technologies had a return on equity of 7.68% and a net margin of 8.28%. The business had revenue of $25.86 million for the quarter.

Institutional Trading of Geospace Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new stake in Geospace Technologies in the second quarter worth $113,000. Rhumbline Advisers increased its holdings in shares of Geospace Technologies by 2,370.7% in the 2nd quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 14,224 shares during the period. LSV Asset Management bought a new stake in Geospace Technologies in the 1st quarter valued at about $191,000. Avantax Advisory Services Inc. acquired a new position in Geospace Technologies during the 1st quarter valued at about $215,000. Finally, Bank of New York Mellon Corp bought a new position in Geospace Technologies in the 2nd quarter worth about $314,000. 57.15% of the stock is currently owned by institutional investors and hedge funds.

About Geospace Technologies

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.