Geospace Technologies Co. (NASDAQ:GEOS) Sees Significant Increase in Short Interest

Geospace Technologies Co. (NASDAQ:GEOS) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 399,500 shares, a growth of 5.2% from the December 31st total of 379,900 shares. Based on an average daily volume of 42,500 shares, the days-to-cover ratio is presently 9.4 days. Currently, 3.4% of the shares of the company are short sold.

Institutional Investors Weigh In On Geospace Technologies

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Geospace Technologies by 14.8% during the 2nd quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock valued at $424,000 after purchasing an additional 6,100 shares in the last quarter. Glenorchy Capital Ltd increased its holdings in shares of Geospace Technologies by 2.7% during the 3rd quarter. Glenorchy Capital Ltd now owns 186,217 shares of the oil and gas company’s stock worth $1,925,000 after purchasing an additional 4,824 shares during the period. Grace & White Inc. NY increased its holdings in shares of Geospace Technologies by 15.3% during the 3rd quarter. Grace & White Inc. NY now owns 216,096 shares of the oil and gas company’s stock worth $2,234,000 after purchasing an additional 28,752 shares during the period. US Bancorp DE increased its holdings in shares of Geospace Technologies by 120.0% during the 3rd quarter. US Bancorp DE now owns 71,033 shares of the oil and gas company’s stock worth $734,000 after purchasing an additional 38,752 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Geospace Technologies by 59.2% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 57.15% of the company’s stock.

Analyst Ratings Changes

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 1.9 %

NASDAQ GEOS opened at $8.92 on Tuesday. Geospace Technologies has a 12 month low of $8.09 and a 12 month high of $17.09. The company’s 50 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 earnings per share for the quarter. Geospace Technologies had a negative net margin of 4.85% and a positive return on equity of 7.65%.

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.