Dawson Geophysical Company (NASDAQ:DWSN) Stock Short Interest Falls 36.4%

Dawson Geophysical Company (NASDAQ:DWSN) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 119,448 shares, a decrease of 36.4% from the September 30th total of 187,886 shares. Based on an average daily volume of 132,878 shares, the short-interest ratio is presently 0.9 days. Currently, 0.4% of the company’s stock are sold short.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings cut Dawson Geophysical from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. Wall Street Zen lowered shares of Dawson Geophysical from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Dawson Geophysical Stock Up 1.8%

Dawson Geophysical stock opened at $1.74 on Wednesday. Dawson Geophysical has a 1-year low of $1.50 and a 1-year high of $7.85. The business has a fifty day moving average price of $2.77 and a 200-day moving average price of $3.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $54.04 million, a price-to-earnings ratio of 14.25 and a beta of 0.12.

Dawson Geophysical (NASDAQ:DWSN) last announced its earnings results on Thursday, August 13th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $17.91 million for the quarter, compared to analyst estimates of $39.60 million. Dawson Geophysical had a return on equity of 19.56% and a net margin of 3.49%.

Hedge Funds Weigh In On Dawson Geophysical

Several hedge funds have recently modified their holdings of the stock. Sanders Morris Harris LLC grew its position in Dawson Geophysical by 125.0% during the 3rd quarter. Sanders Morris Harris LLC now owns 45,000 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 25,000 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Dawson Geophysical in the second quarter worth $239,000. GSA Capital Partners LLP purchased a new position in shares of Dawson Geophysical in the second quarter worth $209,000. Hillsdale Investment Management Inc. purchased a new position in shares of Dawson Geophysical in the first quarter worth $119,000. Finally, BlackRock Inc. acquired a new stake in shares of Dawson Geophysical during the second quarter worth $130,000. Institutional investors and hedge funds own 7.86% of the company’s stock.

About Dawson Geophysical

Dawson Geophysical Company is a provider of onshore seismic data acquisition services for the energy industry. Its work helps oil and natural gas companies evaluate subsurface formations and identify potential drilling opportunities.

The company has historically offered 2D and 3D seismic surveys, as well as related field services, data processing and geophysical support. Its operations have focused primarily on land-based projects in the United States and Canada, serving exploration and production companies, geophysical contractors and other energy-sector customers.

Founded in 1952 and headquartered in Midland, Texas, Dawson Geophysical has operated through changing conditions in the oil and gas exploration market.