Geospace Technologies Co. (NASDAQ:GEOS) Short Interest Update

Geospace Technologies Co. (NASDAQ:GEOS) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 239,100 shares, an increase of 8.3% from the May 15th total of 220,700 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily trading volume, of 74,500 shares, the short-interest ratio is currently 3.2 days.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Geospace Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 10th.

Institutional Investors Weigh In On Geospace Technologies

Large investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. increased its stake in shares of Geospace Technologies by 1,067.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 162,242 shares of the oil and gas company’s stock valued at $2,103,000 after purchasing an additional 148,342 shares during the period. Gate City Capital Management LLC acquired a new stake in shares of Geospace Technologies in the fourth quarter valued at approximately $4,270,000. Citigroup Inc. acquired a new stake in shares of Geospace Technologies in the third quarter valued at approximately $153,000. G2 Investment Partners Management LLC acquired a new stake in shares of Geospace Technologies in the fourth quarter valued at approximately $5,297,000. Finally, Jump Financial LLC acquired a new stake in shares of Geospace Technologies in the fourth quarter valued at approximately $213,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

Geospace Technologies Stock Down 2.8 %

Shares of NASDAQ GEOS opened at $9.16 on Wednesday. The firm’s 50-day moving average price is $11.20 and its two-hundred day moving average price is $12.49. Geospace Technologies has a 52-week low of $6.60 and a 52-week high of $17.09. The stock has a market capitalization of $122.38 million, a P/E ratio of 7.70 and a beta of 0.74.

Geospace Technologies (NASDAQ:GEOS) last issued its earnings results on Thursday, May 9th. The oil and gas company reported ($0.32) earnings per share (EPS) for the quarter. Geospace Technologies had a return on equity of 11.65% and a net margin of 11.75%. The business had revenue of $24.27 million during the quarter.

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.