Geospace Technologies Co. (NASDAQ:GEOS) Sees Large Increase in Short Interest

Geospace Technologies Co. (NASDAQ:GEOS) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 399,500 shares, an increase of 5.2% from the December 31st total of 379,900 shares. Based on an average trading volume of 42,500 shares, the days-to-cover ratio is presently 9.4 days. Approximately 3.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GEOS. BNP Paribas Financial Markets boosted its stake in Geospace Technologies by 40.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 872 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Geospace Technologies by 7.0% in the fourth quarter. Bank of New York Mellon Corp now owns 26,558 shares of the oil and gas company’s stock worth $266,000 after buying an additional 1,739 shares during the period. Empowered Funds LLC grew its holdings in shares of Geospace Technologies by 4.9% during the fourth quarter. Empowered Funds LLC now owns 48,238 shares of the oil and gas company’s stock valued at $483,000 after buying an additional 2,236 shares in the last quarter. Glenorchy Capital Ltd raised its position in Geospace Technologies by 2.7% during the third quarter. Glenorchy Capital Ltd now owns 186,217 shares of the oil and gas company’s stock valued at $1,925,000 after buying an additional 4,824 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Geospace Technologies by 14.8% in the 2nd quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock worth $424,000 after acquiring an additional 6,100 shares in the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

Geospace Technologies Stock Performance

NASDAQ GEOS opened at $9.44 on Wednesday. The stock has a market capitalization of $121.02 million, a P/E ratio of -17.48 and a beta of 0.57. The business’s fifty day moving average is $10.05 and its two-hundred day moving average is $10.33. Geospace Technologies has a 1 year low of $8.09 and a 1 year high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last announced its earnings results on Thursday, November 21st. The oil and gas company reported $0.36 EPS for the quarter. Geospace Technologies had a positive return on equity of 7.65% and a negative net margin of 4.85%.

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.