Geospace Technologies Co. (NASDAQ:GEOS) Sees Significant Decline in Short Interest

Geospace Technologies Co. (NASDAQ:GEOS) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 520,100 shares, a decline of 6.0% from the August 31st total of 553,100 shares. Approximately 4.4% of the company’s stock are sold short. Based on an average daily trading volume, of 81,800 shares, the days-to-cover ratio is currently 6.4 days.

Geospace Technologies Price Performance

NASDAQ:GEOS opened at $10.34 on Monday. Geospace Technologies has a 12 month low of $8.09 and a 12 month high of $17.09. The firm has a market capitalization of $133.49 million, a PE ratio of 8.69 and a beta of 0.63. The business’s fifty day moving average price is $9.63 and its 200 day moving average price is $10.60.

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

Institutional Trading of Geospace Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gate City Capital Management LLC purchased a new position in shares of Geospace Technologies in the 4th quarter valued at $4,270,000. G2 Investment Partners Management LLC purchased a new position in Geospace Technologies during the 4th quarter worth approximately $5,297,000. LSV Asset Management acquired a new position in Geospace Technologies during the first quarter worth approximately $191,000. Acadian Asset Management LLC lifted its stake in Geospace Technologies by 11.4% in the first quarter. Acadian Asset Management LLC now owns 191,604 shares of the oil and gas company’s stock valued at $2,524,000 after buying an additional 19,660 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Geospace Technologies by 69.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 69,558 shares of the oil and gas company’s stock worth $917,000 after purchasing an additional 28,539 shares during the period. Institutional investors and hedge funds own 57.15% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Geospace Technologies from a “hold” rating to a “sell” rating in a report on Saturday, September 7th.

Geospace Technologies Company 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.