SAExploration Holdings Inc (NASDAQ:SAEX) Short Interest Up 6.7% in November

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SAExploration Holdings Inc (NASDAQ:SAEX) was the target of a large increase in short interest in November. As of November 29th, there was short interest totalling 346,900 shares, an increase of 6.7% from the November 14th total of 325,100 shares. Approximately 9.3% of the company’s stock are short sold. Based on an average daily volume of 440,000 shares, the short-interest ratio is currently 0.8 days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new stake in SAExploration during the 2nd quarter valued at $58,000. Bank of New York Mellon Corp acquired a new position in SAExploration during the 2nd quarter worth $87,000. Vanguard Group Inc. grew its holdings in SAExploration by 286.2% during the 2nd quarter. Vanguard Group Inc. now owns 138,553 shares of the oil and gas company’s stock worth $499,000 after acquiring an additional 102,679 shares in the last quarter. BlueMountain Capital Management LLC grew its holdings in SAExploration by 99.6% during the 2nd quarter. BlueMountain Capital Management LLC now owns 240,432 shares of the oil and gas company’s stock worth $866,000 after acquiring an additional 119,980 shares in the last quarter. Finally, Dupont Capital Management Corp grew its holdings in SAExploration by 1.9% during the 3rd quarter. Dupont Capital Management Corp now owns 632,137 shares of the oil and gas company’s stock worth $1,169,000 after acquiring an additional 11,500 shares in the last quarter. 37.97% of the stock is owned by institutional investors and hedge funds.

SAEX traded down $0.18 during trading hours on Friday, reaching $3.22. 33,407 shares of the stock traded hands, compared to its average volume of 977,723. The firm’s fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $2.54. SAExploration has a fifty-two week low of $1.42 and a fifty-two week high of $6.60. The company has a debt-to-equity ratio of 4.52, a current ratio of 1.28 and a quick ratio of 1.28.

Separately, ValuEngine lowered shares of SAExploration from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.

SAExploration Company Profile

SAExploration Holdings, Inc, an oilfield services company, provides seismic data acquisition and logistical support services in Alaska, Canada, South America, West Africa, and Southeast Asia. Its seismic data acquisition services include program design, planning and permitting, camp service, survey, drilling, recording, reclamation, and in-field data processing.

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