Short Interest in Geospace Technologies Co. (NASDAQ:GEOS) Decreases By 6.0%

Geospace Technologies Co. (NASDAQ:GEOS) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 520,100 shares, a decrease of 6.0% from the August 31st total of 553,100 shares. Approximately 4.4% of the shares of the company are short sold. Based on an average daily trading volume, of 81,800 shares, the days-to-cover ratio is presently 6.4 days.

Geospace Technologies Stock Up 0.4 %

Shares of GEOS opened at $10.38 on Wednesday. The firm has a market capitalization of $138.70 million, a PE ratio of 8.72 and a beta of 0.63. The firm has a 50-day moving average price of $9.65 and a 200 day moving average price of $10.57. Geospace Technologies has a 52-week low of $8.09 and a 52-week high of $17.09.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.16) EPS for the quarter. The company had revenue of $25.86 million for the quarter. Geospace Technologies had a net margin of 8.28% and a return on equity of 7.68%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Geospace Technologies from a “sell” rating to a “hold” rating in a research report on Monday.

Hedge Funds Weigh In On Geospace Technologies

Several hedge funds have recently made changes to their positions in GEOS. Renaissance Technologies LLC grew 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 buying an additional 6,100 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Geospace Technologies during the second quarter worth $113,000. Acadian Asset Management LLC lifted its holdings in shares of Geospace Technologies by 18.1% during the second quarter. Acadian Asset Management LLC now owns 226,366 shares of the oil and gas company’s stock valued at $2,027,000 after purchasing an additional 34,762 shares during the last quarter. Rhumbline Advisers increased its stake in Geospace Technologies by 2,370.7% in the 2nd quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock worth $133,000 after purchasing an additional 14,224 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Geospace Technologies during the 2nd quarter worth about $314,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

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.