Dawson Geophysical Company (NASDAQ:DWSN) Sees Significant Growth in Short Interest

Key Points

• Short interest jumped 111.6% in March to 76,422 shares (0.2% of float), with a days-to-cover ratio of only 0.4 days, indicating a sharp rise in bearish bets but low time required to cover.
• The stock traded up 10.9% to $3.08 on above-average volume (161,342 vs. avg. 135,253), with a market cap of about $95.7M, a negative P/E (-25.6) and 50-/200-day moving averages of $2.90 and $2.21 respectively.
• Analyst coverage is thin and cautious: Weiss Ratings reaffirmed a Hold (c-) and the consensus rating is "Hold," while institutional ownership remains low at roughly 7.86%.

Dawson Geophysical Company (NASDAQ:DWSN - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 76,422 shares, an increase of 111.6% from the February 26th total of 36,109 shares. Based on an average daily volume of 182,185 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dawson Geophysical in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Dawson Geophysical presently has a consensus rating of "Hold".

Dawson Geophysical Trading Up 10.9%

DWSN traded up $0.30 during trading on Thursday, hitting $3.08. The company's stock had a trading volume of 161,342 shares, compared to its average volume of 135,253. The firm's 50 day moving average price is $2.90 and its 200-day moving average price is $2.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $95.73 million, a PE ratio of -25.59 and a beta of -0.17. Dawson Geophysical has a twelve month low of $1.08 and a twelve month high of $5.54.

Hedge Funds Weigh In On Dawson Geophysical

Several hedge funds and other institutional investors have recently modified their holdings of DWSN. Grace & White Inc. NY raised its stake in shares of Dawson Geophysical by 5.0% during the third quarter. Grace & White Inc. NY now owns 909,879 shares of the oil and gas company's stock valued at $1,601,000 after purchasing an additional 43,457 shares during the period. Teton Advisors LLC purchased a new position in shares of Dawson Geophysical in the third quarter valued at $35,000. Bridgeway Capital Management LLC grew its holdings in Dawson Geophysical by 83.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 21,710 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 9,900 shares in the last quarter. Jane Street Group LLC acquired a new stake in Dawson Geophysical during the 2nd quarter valued at $52,000. Finally, Citadel Advisors LLC lifted its holdings in Dawson Geophysical by 67.9% in the 3rd quarter. Citadel Advisors LLC now owns 60,599 shares of the oil and gas company's stock worth $107,000 after buying an additional 24,504 shares in the last quarter. 7.86% of the stock is owned by institutional investors and hedge funds.

Dawson Geophysical Company Profile

Dawson Geophysical Company provides land-based seismic data acquisition services to the oil and gas industry. Through its subsidiaries, the company specializes in the design, deployment and operation of seismic crews that collect high-fidelity subsurface data. Its services support exploration and development programs by delivering two-dimensional (2D), three-dimensional (3D) and time-lapse (4D) seismic surveys that enable clients to make informed drilling and reservoir management decisions.

The company's fleet includes vibratory and impulsive seismic sources, high-capacity source trucks, geophone sensor arrays and digital recording systems.

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