Geospace Technologies Co. (NASDAQ:GEOS) Short Interest Up 12.0% in June

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

Geospace Technologies Trading Down 0.7 %

Shares of NASDAQ:GEOS traded down $0.06 during trading on Monday, hitting $8.92. 130,903 shares of the company were exchanged, compared to its average volume of 108,579. The stock has a market cap of $119.17 million, a price-to-earnings ratio of 7.55 and a beta of 0.67. Geospace Technologies has a fifty-two week low of $7.22 and a fifty-two week high of $17.09. The firm has a fifty day moving average price of $10.59 and a two-hundred day moving average price of $12.33.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. G2 Investment Partners Management LLC bought a new position in shares of Geospace Technologies during the 4th quarter worth approximately $5,297,000. Gate City Capital Management LLC bought a new position in shares of Geospace Technologies during the 4th quarter worth approximately $4,270,000. Acadian Asset Management LLC boosted its stake in shares of Geospace Technologies by 11.4% during the 1st 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. boosted its stake in shares of Geospace Technologies by 7.3% during the 1st 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 bought a new position in shares of Geospace Technologies during the 4th quarter worth approximately $2,140,000. 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.