Geospace Technologies Co. (NASDAQ:GEOS) Sees Significant Increase in Short Interest

Geospace Technologies Co. (NASDAQ:GEOSGet Free Report) was the target of a large increase in short interest in the month of February. As of February 29th, there was short interest totalling 272,200 shares, an increase of 10.4% from the February 14th total of 246,600 shares. Based on an average trading volume of 116,000 shares, the short-interest ratio is presently 2.3 days. Approximately 2.2% of the shares of the company are short sold.

Insider Buying and Selling

In other news, SVP Robbin B. Adams sold 2,078 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $12.29, for a total transaction of $25,538.62. Following the completion of the transaction, the senior vice president now directly owns 79,739 shares in the company, valued at $979,992.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 4,240 shares of company stock valued at $52,124 in the last quarter. Company insiders own 6.89% of the company’s stock.

Institutional Investors Weigh In On Geospace Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of GEOS. Prelude Capital Management LLC acquired a new position in shares of Geospace Technologies in the 1st quarter worth approximately $58,000. BlackRock Inc. increased its holdings in shares of Geospace Technologies by 1.7% in the third quarter. BlackRock Inc. now owns 259,584 shares of the oil and gas company’s stock valued at $1,145,000 after buying an additional 4,338 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Geospace Technologies during the 4th quarter valued at $67,000. Millennium Management LLC bought a new stake in shares of Geospace Technologies during the 4th quarter worth $67,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Geospace Technologies by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 556,275 shares of the oil and gas company’s stock worth $3,922,000 after acquiring an additional 11,635 shares during the last quarter. 41.98% of the stock is currently owned by institutional investors.

Geospace Technologies Trading Down 0.2 %

Shares of NASDAQ:GEOS opened at $12.47 on Tuesday. Geospace Technologies has a twelve month low of $5.92 and a twelve month high of $17.09. The firm has a market cap of $166.10 million, a P/E ratio of 6.70 and a beta of 0.77. The company has a 50 day moving average of $13.51 and a 200-day moving average of $12.67.

Geospace Technologies (NASDAQ:GEOSGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter. The company had revenue of $50.03 million for the quarter. Geospace Technologies had a return on equity of 18.73% and a net margin of 17.42%.

Analyst Upgrades and Downgrades

Separately, downgraded shares of Geospace Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th.

Read Our Latest Stock Report on GEOS

About Geospace Technologies

(Get Free Report)

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.

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