Short Interest in Geospace Technologies Corporation (NASDAQ:GEOS) Expands By 20.9%

Key Points

• Short interest in Geospace Technologies Corporation increased by 20.9% in August, reaching a total of 735,600 shares as of August 31st.
• Institutional investors own 57.15% of Geospace Technologies' stock, with notable increases in ownership from firms like Grace & White Inc. and US Bancorp DE.
• Geospace Technologies recently received an upgrade from a sell to a hold rating by Wall Street Zen, reflecting positive analyst sentiment.

Geospace Technologies Corporation (NASDAQ:GEOS - Get Free Report) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 735,600 shares, a growth of 20.9% from the August 15th total of 608,300 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 296,000 shares, the short-interest ratio is presently 2.5 days. Based on an average daily trading volume, of 296,000 shares, the short-interest ratio is presently 2.5 days. Currently, 6.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Geospace Technologies

Institutional investors have recently bought and sold shares of the business. Grace & White Inc. NY boosted its stake in Geospace Technologies by 39.4% during the first quarter. Grace & White Inc. NY now owns 301,321 shares of the oil and gas company's stock worth $2,173,000 after buying an additional 85,225 shares in the last quarter. Peapod Lane Capital LLC raised its holdings in shares of Geospace Technologies by 10.4% in the first quarter. Peapod Lane Capital LLC now owns 280,051 shares of the oil and gas company's stock valued at $2,019,000 after buying an additional 26,399 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Geospace Technologies by 5.3% in the first quarter. Moors & Cabot Inc. now owns 785,900 shares of the oil and gas company's stock valued at $5,666,000 after buying an additional 39,813 shares during the last quarter. Nuveen LLC bought a new position in shares of Geospace Technologies in the first quarter valued at about $120,000. Finally, US Bancorp DE raised its holdings in Geospace Technologies by 74.6% during the 1st quarter. US Bancorp DE now owns 124,034 shares of the oil and gas company's stock worth $894,000 after purchasing an additional 53,001 shares during the last quarter. Institutional investors and hedge funds own 57.15% of the company's stock.

Analysts Set New Price Targets

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

Geospace Technologies Price Performance

GEOS traded up $0.66 during midday trading on Thursday, hitting $19.06. 134,425 shares of the company's stock traded hands, compared to its average volume of 147,133. Geospace Technologies has a one year low of $5.51 and a one year high of $21.60. The stock's fifty day simple moving average is $15.95 and its 200-day simple moving average is $10.65. The company has a market cap of $244.37 million, a PE ratio of -17.98 and a beta of 0.70.

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

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.

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