Dawson Geophysical Co. (DWSN) Stock Price Down 2.8% After Insider Selling
Dawson Geophysical Co. (NASDAQ:DWSN)’s share price fell 2.8% during trading on Tuesday following insider selling activity. The stock traded as low as $6.63 and last traded at $6.90, with a volume of 57,263 shares traded. The stock had previously closed at $7.10.
Specifically, Director Allen T. Mcinnes sold 3,990 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $7.02, for a total transaction of $28,009.80. Following the transaction, the director now directly owns 351,111 shares of the company’s stock, valued at $2,464,799.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.70% of the company’s stock.
Several research firms have recently issued reports on DWSN. Zacks Investment Research raised Dawson Geophysical from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Wednesday, July 20th. Raymond James Financial Inc. cut Dawson Geophysical from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 25th.
The firm’s 50 day moving average is $7.31 and its 200-day moving average is $6.45. The stock’s market cap is $148.11 million.
Institutional investors have recently made changes to their positions in the stock. Alambic Investment Management L.P. raised its position in shares of Dawson Geophysical by 170.0% in the second quarter. Alambic Investment Management L.P. now owns 27,265 shares of the company’s stock worth $222,000 after buying an additional 17,165 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of Dawson Geophysical during the second quarter worth approximately $103,000. GSA Capital Partners LLP purchased a new position in shares of Dawson Geophysical during the second quarter worth approximately $129,000. Van Den Berg Management I Inc. raised its position in shares of Dawson Geophysical by 68.9% in the second quarter. Van Den Berg Management I Inc. now owns 782,856 shares of the company’s stock worth $6,380,000 after buying an additional 319,260 shares during the last quarter. Finally, California State Teachers Retirement System purchased a new position in shares of Dawson Geophysical during the second quarter worth approximately $345,000. 69.77% of the stock is owned by institutional investors.
Dawson Geophysical Company Profile
Dawson Geophysical Company, formerly TGC Industries, Inc, is a provider of onshore seismic data acquisition and processing services with operations throughout the United States and Canada. The Company acquires and processes two-dimensional (2-D), three-dimensional (3-D) and multi-component seismic data for its clients, ranging from oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries.
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