Short Interest in Geospace Technologies Co. (NASDAQ:GEOS) Rises By 12.0%

Geospace Technologies Co. (NASDAQ:GEOS) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 267,900 shares, a growth of 12.0% from the May 31st total of 239,100 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 80,000 shares, the days-to-cover ratio is presently 3.3 days.

Geospace Technologies Stock Performance

NASDAQ:GEOS traded up $0.37 on Wednesday, hitting $9.28. 56,229 shares of the stock were exchanged, compared to its average volume of 107,920. The stock has a market capitalization of $123.98 million, a price-to-earnings ratio of 7.90 and a beta of 0.67. Geospace Technologies has a 52 week low of $7.22 and a 52 week high of $17.09. The company’s 50-day moving average price is $10.45 and its 200 day moving average price is $12.29.

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

Analyst Ratings Changes

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.

Hedge Funds Weigh In On Geospace Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC bought a new position in Geospace Technologies during the third quarter worth about $109,000. O Shaughnessy Asset Management LLC bought a new position in shares of Geospace Technologies during the 3rd quarter valued at about $133,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Geospace Technologies in the 3rd quarter valued at approximately $143,000. Victory Capital Management Inc. increased its stake in Geospace Technologies by 34.8% during the 4th quarter. Victory Capital Management Inc. now owns 45,020 shares of the oil and gas company’s stock worth $583,000 after purchasing an additional 11,610 shares in the last quarter. Finally, Citigroup Inc. acquired a new stake in Geospace Technologies during the 3rd quarter worth approximately $153,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

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.