Geospace Technologies (NASDAQ:GEOS) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Geospace Technologies Co. (NASDAQ:GEOS)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.23 and traded as high as $10.44. Geospace Technologies shares last traded at $10.23, with a volume of 57,285 shares changing hands.

Analyst Ratings Changes

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

Geospace Technologies Price Performance

The stock’s 50 day simple moving average is $11.38 and its two-hundred day simple moving average is $10.23. The company has a market capitalization of $125.56 million, a P/E ratio of -18.30 and a beta of 0.60.

Institutional Investors Weigh In On Geospace Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE raised its stake in shares of 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 worth $734,000 after buying an additional 38,752 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Geospace Technologies by 59.2% in the 3rd quarter. Empowered Funds LLC now owns 46,002 shares of the oil and gas company’s stock worth $476,000 after purchasing an additional 17,098 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Geospace Technologies by 18.1% during the second quarter. Acadian Asset Management LLC now owns 226,366 shares of the oil and gas company’s stock worth $2,027,000 after purchasing an additional 34,762 shares during the period. Bank of New York Mellon Corp bought a new stake in Geospace Technologies in the second quarter valued at about $314,000. Finally, Renaissance Technologies LLC lifted its stake in Geospace Technologies by 14.8% in the second quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock valued at $424,000 after buying an additional 6,100 shares during the period. 57.15% of the stock is 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.