Geospace Technologies cut to Sell at BWS Financial, shares -5.8%

|About: Geospace Technologies Corpo... (GEOS)|By:, SA News Editor

Geospace Technologies (GEOS -5.8%) is downgraded to Sell from Hold at BWS Financial.

GEOS' growth in the past year mostly has been the result of a one-time contract from Statoil, which will be fulfilled in H1 2014; the firm worries that the timing of the STO contract, a shrinking U.S. capex budget, a slow Canadian winter, a competitive pricing environment, and no timing as to a recovery in the U.S. exploration market could lead to a disappointing 2014.