Geospace Technologies Corporation (NASDAQ:GEOS) Sees Significant Drop in Short Interest

Geospace Technologies Corporation (NASDAQ:GEOS) was the target of a significant 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 company’s stock are short sold. Based on an average daily volume of 225,976 shares, the short-interest ratio is presently 3.1 days. Based on an average daily volume of 225,976 shares, the short-interest ratio is presently 3.1 days. Approximately 5.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Geospace Technologies Stock Performance

Shares of GEOS opened at $9.69 on Monday. The firm has a fifty day moving average of $16.97 and a 200-day moving average of $18.75. The company 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 1 year low of $5.51 and a 1 year high of $29.89.

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

Institutional Trading of Geospace Technologies

Several large investors have recently added to or reduced their stakes in GEOS. SBI Securities Co. Ltd. boosted its position in Geospace Technologies by 14,530.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,463 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,453 shares during the period. Raymond James Financial Inc. bought a new position in Geospace Technologies in the 2nd quarter valued at about $51,000. BNP Paribas Financial Markets increased its stake in Geospace Technologies by 670.8% during 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 stake in shares of Geospace Technologies in the 4th quarter worth approximately $67,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Geospace Technologies in the fourth quarter valued at approximately $176,000. 57.15% of the stock is currently owned by institutional investors and hedge funds.

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.