Short Interest in Geospace Technologies Co. (NASDAQ:GEOS) Increases By 5.2%

Geospace Technologies Co. (NASDAQ:GEOS) was the recipient of a significant increase in short interest in the month of 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 daily volume of 42,500 shares, the days-to-cover ratio is currently 9.4 days. Approximately 3.4% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, StockNews.com upgraded Geospace Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th.

Geospace Technologies Trading Down 2.6 %

Geospace Technologies stock opened at $9.09 on Monday. The firm has a market capitalization of $116.52 million, a P/E ratio of -16.83 and a beta of 0.60. Geospace Technologies has a 1 year low of $8.09 and a 1 year high of $17.09. The business has a 50-day moving average of $10.09 and a 200-day moving average of $10.33.

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

Hedge Funds Weigh In On Geospace Technologies

Several institutional investors have recently modified their holdings of GEOS. Peapod Lane Capital LLC bought a new position in shares of Geospace Technologies during the 4th quarter valued at about $2,542,000. US Bancorp DE lifted its holdings in shares of Geospace Technologies by 120.0% during the 3rd quarter. US Bancorp DE now owns 71,033 shares of the oil and gas company’s stock valued at $734,000 after purchasing an additional 38,752 shares in the last quarter. Grace & White Inc. NY lifted its holdings in shares of Geospace Technologies by 15.3% during the 3rd quarter. Grace & White Inc. NY now owns 216,096 shares of the oil and gas company’s stock valued at $2,234,000 after purchasing an additional 28,752 shares in the last quarter. State Street Corp lifted its holdings in shares of Geospace Technologies by 12.4% during the 3rd quarter. State Street Corp now owns 167,497 shares of the oil and gas company’s stock valued at $1,732,000 after purchasing an additional 18,469 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Geospace Technologies by 59.2% during the 3rd quarter. Empowered Funds LLC now owns 46,002 shares of the oil and gas company’s stock valued at $476,000 after purchasing an additional 17,098 shares in the last quarter. Institutional investors own 57.15% of the company’s stock.

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.