Short Interest in Dawson Geophysical Company (NASDAQ:DWSN) Declines By 29.7%

Key Points

• Short interest in Dawson Geophysical fell by 29.7% to 36,109 shares as of Feb. 27 (down from 51,364 on Feb. 12); with average daily volume of ~97,517 shares the days-to-cover is only 0.4 and just 0.1% of shares are sold short.
• The stock last traded at $4.42 with a market cap of $137.24 million, a negative P/E of -36.83, and a 52‑week range of $1.08 to $5.54, reflecting continued volatility.
• Weiss Ratings reiterated a "Hold (c-)" and MarketBeat shows a consensus Hold, while institutional investors own about 7.86% of the company with several funds recently adding or trimming positions.

Dawson Geophysical Company (NASDAQ:DWSN - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 27th, there was short interest totaling 36,109 shares, a decline of 29.7% from the February 12th total of 51,364 shares. Based on an average daily volume of 97,517 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 97,517 shares, the days-to-cover ratio is currently 0.4 days.

Dawson Geophysical Price Performance

DWSN traded up $0.13 during trading on Friday, reaching $4.42. The company's stock had a trading volume of 164,051 shares, compared to its average volume of 136,461. The company has a market cap of $137.24 million, a price-to-earnings ratio of -36.83 and a beta of -0.17. The firm has a fifty day simple moving average of $2.64 and a two-hundred day simple moving average of $2.11. Dawson Geophysical has a 1 year low of $1.08 and a 1 year high of $5.54. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.43.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Dawson Geophysical in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Hedge Funds Weigh In On Dawson Geophysical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Grace & White Inc. NY grew its holdings in Dawson Geophysical by 5.0% in the 3rd quarter. Grace & White Inc. NY now owns 909,879 shares of the oil and gas company's stock valued at $1,601,000 after buying an additional 43,457 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Dawson Geophysical during the 2nd quarter valued at about $52,000. Two Sigma Investments LP purchased a new stake in shares of Dawson Geophysical in the third quarter valued at about $52,000. Citadel Advisors LLC increased its position in Dawson Geophysical by 67.9% during the third quarter. Citadel Advisors LLC now owns 60,599 shares of the oil and gas company's stock worth $107,000 after purchasing an additional 24,504 shares during the last quarter. Finally, Teton Advisors LLC acquired a new stake in Dawson Geophysical during the third quarter worth about $35,000. Institutional investors and hedge funds own 7.86% of the company's stock.

About Dawson Geophysical

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.