Geospace Technologies Corporation (NASDAQ:GEOS) Sees Large Decrease in Short Interest

Geospace Technologies Corporation (NASDAQ:GEOS) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 709,093 shares, a drop of 16.0% from the January 15th total of 844,329 shares. Approximately 5.7% of the shares of the stock are short sold. Based on an average daily volume of 225,976 shares, the days-to-cover ratio is currently 3.1 days. Based on an average daily volume of 225,976 shares, the days-to-cover ratio is currently 3.1 days. Approximately 5.7% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GEOS. SBI Securities Co. Ltd. increased its holdings in shares of Geospace Technologies by 14,530.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,463 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 1,453 shares during the period. Raymond James Financial Inc. purchased a new position in Geospace Technologies during the second quarter valued at approximately $51,000. BNP Paribas Financial Markets increased its stake in Geospace Technologies by 670.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,453 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 3,005 shares during the period. Kestra Advisory Services LLC acquired a new position in Geospace Technologies in the 4th quarter valued at approximately $67,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Geospace Technologies in the 4th quarter worth approximately $176,000. 57.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GEOS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Geospace Technologies in a report on Monday, December 29th. Wall Street Zen lowered shares of Geospace Technologies from a “hold” rating to a “strong sell” rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Geospace Technologies Price Performance

Shares of GEOS opened at $9.69 on Monday. The company has a 50-day moving average of $16.97 and a two-hundred day moving average of $18.75. The stock has a market cap of $124.90 million, a price-to-earnings ratio of -4.44 and a beta of 0.46. Geospace Technologies has a one year low of $5.51 and a one year high of $29.89.

Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.76) EPS for the quarter. Geospace Technologies had a negative net margin of 28.10% and a negative return on equity of 21.91%. The firm had revenue of $25.59 million during the quarter.

Geospace Technologies Company Profile

Geospace Technologies Corporation specializes in the design, manufacturing and marketing of geophysical instrumentation for seismic data acquisition. The company’s solutions address the needs of oil and gas exploration and production companies by enabling detailed subsurface imaging through advanced sensor and acquisition systems. Geospace serves both land and marine seismic markets, offering equipment that meets the rigorous demands of contemporary seismic surveys.

In its Land Products segment, Geospace Technologies offers a range of components including geophones, accelerometers, cable and recorder accessories designed to collect high-quality seismic signals in onshore environments.