Geospace Technologies Co. (NASDAQ:GEOS) Sees Large Decline in Short Interest

Geospace Technologies Co. (NASDAQ:GEOS) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 362,400 shares, a decrease of 5.6% from the January 15th total of 384,100 shares. Based on an average daily trading volume, of 53,300 shares, the days-to-cover ratio is presently 6.8 days. Currently, 3.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Geospace Technologies

Several institutional investors have recently made changes to their positions in GEOS. Grace & White Inc. NY grew its holdings in shares of Geospace Technologies by 15.3% during the third 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 during the last quarter. US Bancorp DE grew its holdings in shares of Geospace Technologies by 120.0% during the third 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 during the last quarter. Empowered Funds LLC grew its holdings in shares of Geospace Technologies by 59.2% during the third 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 during the last quarter. EagleClaw Capital Managment LLC bought a new position in shares of Geospace Technologies during the third quarter valued at approximately $114,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Geospace Technologies by 40.7% during the third quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 872 shares during the last quarter. 57.15% of the stock is owned by institutional investors.

Geospace Technologies Stock Up 1.2 %

Shares of NASDAQ GEOS opened at $9.23 on Wednesday. The stock’s 50 day moving average price is $9.68 and its two-hundred day moving average price is $10.30. Geospace Technologies has a 52-week low of $8.03 and a 52-week high of $14.83. The stock has a market capitalization of $118.33 million, a P/E ratio of -11.12 and a beta of 0.57.

Geospace Technologies (NASDAQ:GEOS) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Geospace Technologies had a positive return on equity of 4.61% and a negative net margin of 8.86%.

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.