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

Geospace Technologies Co. (NASDAQ:GEOS) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 541,800 shares, an increase of 11.4% from the July 31st total of 486,500 shares. Based on an average daily volume of 96,900 shares, the days-to-cover ratio is presently 5.6 days. Currently, 4.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Geospace Technologies from a “hold” rating to a “sell” rating in a research note on Thursday.

Geospace Technologies Stock Performance

Geospace Technologies stock opened at $10.32 on Friday. The company has a market cap of $137.90 million, a price-to-earnings ratio of 8.67 and a beta of 0.67. Geospace Technologies has a 1 year low of $8.09 and a 1 year high of $17.09. The firm has a 50 day moving average price of $9.27 and a 200 day moving average price of $10.92.

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. Geospace Technologies had a return on equity of 7.68% and a net margin of 8.28%. The firm had revenue of $25.86 million for the quarter.

Hedge Funds Weigh In On Geospace Technologies

A number of large investors have recently modified their holdings of GEOS. Renaissance Technologies LLC grew its holdings in shares of Geospace Technologies by 14.8% during the 2nd quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock worth $424,000 after purchasing an additional 6,100 shares during the period. Victory Capital Management Inc. lifted its position in Geospace Technologies by 34.8% during the fourth quarter. Victory Capital Management Inc. now owns 45,020 shares of the oil and gas company’s stock valued at $583,000 after buying an additional 11,610 shares in the last quarter. Trexquant Investment LP purchased a new stake in Geospace Technologies during the fourth quarter worth approximately $153,000. Hillsdale Investment Management Inc. increased its position in shares of Geospace Technologies by 7.3% in the first quarter. Hillsdale Investment Management Inc. now owns 174,142 shares of the oil and gas company’s stock worth $2,297,000 after acquiring an additional 11,900 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Geospace Technologies in the second quarter worth $113,000. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

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.