Short Interest in Geospace Technologies Co. (NASDAQ:GEOS) Expands By 81.3%

Geospace Technologies Co. (NASDAQ:GEOS) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 504,100 shares, an increase of 81.3% from the June 30th total of 278,000 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average trading volume of 110,000 shares, the short-interest ratio is currently 4.6 days.

Hedge Funds Weigh In On Geospace Technologies

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Geospace Technologies by 34.8% during the fourth quarter. Victory Capital Management Inc. now owns 45,020 shares of the oil and gas company’s stock worth $583,000 after acquiring an additional 11,610 shares during the last quarter. Citigroup Inc. acquired a new position in Geospace Technologies in the third quarter valued at $153,000. Trexquant Investment LP purchased a new stake in shares of Geospace Technologies in the fourth quarter valued at about $153,000. Hillsdale Investment Management Inc. boosted its stake in shares of Geospace Technologies by 7.3% during the first quarter. Hillsdale Investment Management Inc. now owns 174,142 shares of the oil and gas company’s stock worth $2,297,000 after buying an additional 11,900 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Geospace Technologies during the fourth quarter worth about $168,000. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Geospace Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 10th.

Geospace Technologies Price Performance

Shares of NASDAQ GEOS traded down $0.03 during midday trading on Friday, hitting $9.62. 38,945 shares of the company’s stock were exchanged, compared to its average volume of 102,866. The firm’s fifty day simple moving average is $9.54 and its 200-day simple moving average is $11.89. The company has a market cap of $128.52 million, a PE ratio of 8.08 and a beta of 0.67. Geospace Technologies has a twelve month low of $7.27 and a twelve month high of $17.09.

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

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.