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

Geospace Technologies Co. (NASDAQ:GEOS) was the target of a significant increase in short interest during 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. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 42,500 shares, the short-interest ratio is currently 9.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GEOS. Renaissance Technologies LLC lifted its position in Geospace Technologies by 14.8% in the second quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock worth $424,000 after purchasing an additional 6,100 shares during the period. Glenorchy Capital Ltd lifted its holdings in shares of Geospace Technologies by 2.7% during the third quarter. Glenorchy Capital Ltd now owns 186,217 shares of the oil and gas company’s stock valued at $1,925,000 after acquiring an additional 4,824 shares during the period. Grace & White Inc. NY lifted 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 acquiring an additional 28,752 shares during the period. US Bancorp DE lifted 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 acquiring an additional 38,752 shares during the period. Finally, Empowered Funds LLC lifted 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 acquiring an additional 17,098 shares during the period. 57.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Geospace Technologies Trading Down 2.6 %

Shares of Geospace Technologies stock opened at $9.09 on Monday. The company has a market cap of $116.52 million, a price-to-earnings 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 company’s fifty day simple moving average is $10.09 and its 200-day simple moving average is $10.33.

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

Geospace Technologies Company Profile

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.