Geospace Technologies Co. (NASDAQ:GEOS) Shares Sold by Acuitas Investments LLC

Acuitas Investments LLC reduced its holdings in shares of Geospace Technologies Co. (NASDAQ:GEOS) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,669 shares of the oil and gas company’s stock after selling 3,402 shares during the period. Geospace Technologies makes up 1.4% of Acuitas Investments LLC’s holdings, making the stock its 24th largest position. Acuitas Investments LLC owned approximately 1.68% of Geospace Technologies worth $2,899,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Glenorchy Capital Ltd acquired a new position in Geospace Technologies during the 4th quarter valued at about $2,140,000. Ritholtz Wealth Management purchased a new stake in Geospace Technologies during the 4th quarter valued at about $250,000. Citigroup Inc. purchased a new stake in Geospace Technologies during the 3rd quarter valued at about $153,000. O Shaughnessy Asset Management LLC purchased a new stake in Geospace Technologies during the 3rd quarter valued at about $133,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Geospace Technologies during the 3rd quarter valued at about $143,000. 57.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Geospace Technologies

In other news, SVP Robbin B. Adams sold 2,078 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $12.29, for a total value of $25,538.62. Following the sale, the senior vice president now owns 79,739 shares in the company, valued at $979,992.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 4,240 shares of company stock worth $52,124 over the last quarter. 6.89% of the stock is currently owned by insiders.

Geospace Technologies Price Performance

Geospace Technologies stock traded down $0.05 during trading hours on Wednesday, hitting $12.48. 33,195 shares of the stock traded hands, compared to its average volume of 96,719. The firm’s 50 day moving average price is $12.76 and its 200-day moving average price is $12.87. The stock has a market capitalization of $166.20 million, a price-to-earnings ratio of 6.71 and a beta of 0.78. Geospace Technologies Co. has a 1 year low of $6.60 and a 1 year high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last issued its earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 EPS for the quarter. Geospace Technologies had a return on equity of 18.73% and a net margin of 17.42%. The firm had revenue of $50.03 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Geospace Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

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.