Geospace Technologies Co. (NASDAQ:GEOS) Short Interest Up 81.3% in July

Geospace Technologies Co. (NASDAQ:GEOS) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 504,100 shares, an increase of 81.3% from the June 30th total of 278,000 shares. Based on an average daily trading volume, of 110,000 shares, the days-to-cover ratio is currently 4.6 days. Currently, 4.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP acquired a new position in Geospace Technologies in the 4th quarter valued at $153,000. Citigroup Inc. acquired a new stake in shares of Geospace Technologies in the third quarter valued at about $153,000. Quadrature Capital Ltd bought a new position in shares of Geospace Technologies in the fourth quarter worth about $168,000. LSV Asset Management acquired a new position in shares of Geospace Technologies during the 1st quarter worth about $191,000. Finally, Jump Financial LLC bought a new stake in Geospace Technologies during the 4th quarter valued at approximately $213,000. 57.15% of the stock is owned by institutional investors.

Geospace Technologies Stock Performance

Shares of Geospace Technologies stock traded down $0.03 during midday trading on Friday, reaching $9.62. 38,945 shares of the company’s stock traded hands, compared to its average volume of 102,866. Geospace Technologies has a 52 week low of $7.27 and a 52 week high of $17.09. The company’s 50 day simple moving average is $9.54 and its 200 day simple moving average is $11.89. The company has a market cap of $128.52 million, a price-to-earnings ratio of 8.08 and a beta of 0.67.

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

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Geospace Technologies from a “strong-buy” rating to a “hold” rating in a 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.