Geospace Technologies Corporation (NASDAQ:GEOS) Short Interest Update

Geospace Technologies Corporation (NASDAQ:GEOS) was the recipient of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 709,093 shares, a decline of 16.0% from the January 15th total of 844,329 shares. Currently, 5.7% of the company’s stock are short sold. Based on an average daily volume of 225,976 shares, the days-to-cover ratio is presently 3.1 days. Based on an average daily volume of 225,976 shares, the days-to-cover ratio is presently 3.1 days. Currently, 5.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

GEOS has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Geospace Technologies in a report on Monday, December 29th. Wall Street Zen cut shares of Geospace Technologies from a “hold” rating to a “strong sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Geospace Technologies has an average rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of Geospace Technologies by 8.2% in the 1st quarter. Empowered Funds LLC now owns 52,207 shares of the oil and gas company’s stock valued at $376,000 after purchasing an additional 3,969 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Geospace Technologies in the second quarter valued at about $288,000. First Eagle Investment Management LLC lifted its position in shares of Geospace Technologies by 8.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 509,364 shares of the oil and gas company’s stock valued at $7,264,000 after acquiring an additional 41,477 shares during the period. Glenorchy Capital Ltd boosted its stake in shares of Geospace Technologies by 1.0% during the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company’s stock worth $2,765,000 after acquiring an additional 1,946 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Geospace Technologies in the 2nd quarter worth approximately $51,000. 57.15% of the stock is currently owned by institutional investors and hedge funds.

Geospace Technologies Stock Up 2.2%

NASDAQ:GEOS traded up $0.21 during trading hours on Wednesday, reaching $9.58. 102,465 shares of the company’s stock were exchanged, compared to its average volume of 285,259. Geospace Technologies has a 1-year low of $5.51 and a 1-year high of $29.89. The firm has a market capitalization of $123.42 million, a price-to-earnings ratio of -4.39 and a beta of 0.46. The company has a 50-day moving average of $16.72 and a 200 day moving average of $18.66.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.76) EPS for the quarter. The business had revenue of $25.59 million during the quarter. Geospace Technologies had a negative net margin of 28.10% and a negative return on equity of 21.91%.

Geospace Technologies Company Profile

Geospace Technologies Corporation specializes in the design, manufacturing and marketing of geophysical instrumentation for seismic data acquisition. The company’s solutions address the needs of oil and gas exploration and production companies by enabling detailed subsurface imaging through advanced sensor and acquisition systems. Geospace serves both land and marine seismic markets, offering equipment that meets the rigorous demands of contemporary seismic surveys.

In its Land Products segment, Geospace Technologies offers a range of components including geophones, accelerometers, cable and recorder accessories designed to collect high-quality seismic signals in onshore environments.