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

Geospace Technologies Co. (NASDAQ:GEOS) saw a significant increase in short interest in 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 trading volume of 80,000 shares, the short-interest ratio is currently 3.3 days. Currently, 2.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Geospace Technologies

Several institutional investors and hedge funds have recently bought and sold shares of GEOS. Hillsdale Investment Management Inc. lifted its position in shares of Geospace Technologies by 1,067.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 162,242 shares of the oil and gas company’s stock worth $2,103,000 after acquiring an additional 148,342 shares in the last quarter. Gate City Capital Management LLC purchased a new stake in shares of Geospace Technologies during the fourth quarter worth $4,270,000. Citigroup Inc. purchased a new stake in shares of Geospace Technologies during the third quarter worth $153,000. G2 Investment Partners Management LLC purchased a new stake in shares of Geospace Technologies during the fourth quarter worth $5,297,000. Finally, Jump Financial LLC purchased a new stake in shares of Geospace Technologies during the fourth quarter worth $213,000. 57.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Geospace Technologies Stock Performance

NASDAQ GEOS traded up $0.37 on Wednesday, hitting $9.28. 57,098 shares of the stock traded hands, compared to its average volume of 107,927. The business’s fifty day moving average is $10.45 and its two-hundred day moving average is $12.29. Geospace Technologies has a 12 month low of $7.22 and a 12 month high of $17.09. The firm has a market capitalization of $123.98 million, a price-to-earnings ratio of 7.90 and a beta of 0.67.

Geospace Technologies (NASDAQ:GEOS) last announced 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 net margin of 11.75% and a return on equity of 11.65%. The firm had revenue of $24.27 million for the quarter.

Geospace Technologies Company Profile

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.