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

Key Points

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Geospace Technologies Corporation (NASDAQ:GEOS - Get Free Report) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 601,100 shares, anincreaseof53.9% from the July 15th total of 390,500 shares. Based on an average daily volume of 252,300 shares, the short-interest ratio is presently 2.4 days. Currently,5.1% of the shares of the stock are short sold. Currently,5.1% of the shares of the stock are short sold. Based on an average daily volume of 252,300 shares, the short-interest ratio is presently 2.4 days.

Geospace Technologies Price Performance

Shares of NASDAQ:GEOS traded up $1.81 during mid-day trading on Friday, hitting $19.49. The company had a trading volume of 240,596 shares, compared to its average volume of 249,931. The firm has a fifty day moving average price of $14.13 and a 200 day moving average price of $9.47. The company has a market capitalization of $249.86 million, a PE ratio of -18.39 and a beta of 0.60. Geospace Technologies has a one year low of $5.51 and a one year high of $19.96.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The oil and gas company reported $0.06 earnings per share for the quarter. Geospace Technologies had a negative net margin of 11.70% and a positive return on equity of 2.77%.

Institutional Trading of Geospace Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in Geospace Technologies by 10.4% during the 4th quarter. Wells Fargo & Company MN now owns 14,646 shares of the oil and gas company's stock valued at $147,000 after purchasing an additional 1,380 shares in the last quarter. Barclays PLC increased its stake in Geospace Technologies by 10.2% during the 4th quarter. Barclays PLC now owns 18,318 shares of the oil and gas company's stock valued at $184,000 after purchasing an additional 1,696 shares in the last quarter. Glenorchy Capital Ltd increased its stake in Geospace Technologies by 1.0% during the 2nd quarter. Glenorchy Capital Ltd now owns 193,884 shares of the oil and gas company's stock valued at $2,765,000 after purchasing an additional 1,946 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Geospace Technologies during the 2nd quarter worth $51,000. Finally, Bank of America Corp DE boosted its holdings in Geospace Technologies by 45.0% during the 4th quarter. Bank of America Corp DE now owns 12,191 shares of the oil and gas company's stock worth $122,000 after acquiring an additional 3,782 shares during the last quarter. Institutional investors own 57.15% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Geospace Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th.

Geospace Technologies Company Profile

Geospace Technologies Corporation designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data in order to locate, characterize, and monitor hydrocarbon producing reservoirs. The company operates through three segments: Oil and Gas Markets, Adjacent Markets, and Emerging Markets.