Short Interest in Geospace Technologies Co. (NASDAQ:GEOS) Expands By 12.0%

Geospace Technologies Co. (NASDAQ:GEOS) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 267,900 shares, a growth of 12.0% from the May 31st total of 239,100 shares. Based on an average daily volume of 80,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 2.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Geospace Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. G2 Investment Partners Management LLC purchased a new position in shares of Geospace Technologies during the fourth quarter worth approximately $5,297,000. Gate City Capital Management LLC purchased a new position in shares of Geospace Technologies during the fourth quarter worth approximately $4,270,000. Acadian Asset Management LLC increased its position in shares of Geospace Technologies by 11.4% during the first quarter. Acadian Asset Management LLC now owns 191,604 shares of the oil and gas company’s stock worth $2,524,000 after acquiring an additional 19,660 shares during the period. Hillsdale Investment Management Inc. increased its position 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 acquiring an additional 11,900 shares during the period. Finally, Glenorchy Capital Ltd purchased a new position in Geospace Technologies during the fourth quarter valued at approximately $2,140,000. 57.15% of the stock is currently owned by institutional investors.

Geospace Technologies Stock Up 4.2 %

Geospace Technologies stock traded up $0.37 during midday trading on Wednesday, reaching $9.28. The stock had a trading volume of 57,098 shares, compared to its average volume of 107,927. Geospace Technologies has a 52-week low of $7.22 and a 52-week high of $17.09. The firm has a market cap of $123.98 million, a price-to-earnings ratio of 7.90 and a beta of 0.67. The company has a fifty day moving average of $10.45 and a 200 day moving average of $12.29.

Geospace Technologies (NASDAQ:GEOS) last posted 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 firm had revenue of $24.27 million during the quarter.

Analysts Set New Price Targets

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

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.