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

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

Geospace Technologies Trading Up 4.4 %

Shares of GEOS stock opened at $10.34 on Monday. The stock has a 50 day simple moving average of $9.63 and a 200-day simple moving average of $10.60. The company has a market cap of $133.49 million, a price-to-earnings ratio of 8.69 and a beta of 0.63. Geospace Technologies has a 12-month low of $8.09 and a 12-month high of $17.09.

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

Institutional Trading of Geospace Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in GEOS. Trexquant Investment LP purchased a new position in Geospace Technologies in the fourth quarter valued at about $153,000. WINTON GROUP Ltd purchased a new position in Geospace Technologies in the 2nd quarter valued at approximately $113,000. Quadrature Capital Ltd purchased a new position in Geospace Technologies in the 4th quarter valued at approximately $168,000. LSV Asset Management purchased a new stake in Geospace Technologies during the first quarter worth $191,000. Finally, Rhumbline Advisers grew its holdings in Geospace Technologies by 2,370.7% in the second quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock valued at $133,000 after purchasing an additional 14,224 shares during the last quarter. Institutional investors and hedge funds own 57.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.