Geospace Technologies Co. (NASDAQ:GEOS) Sees Large Decline in Short Interest

Geospace Technologies Co. (NASDAQ:GEOS) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 362,400 shares, a decrease of 5.6% from the January 15th total of 384,100 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily volume of 53,300 shares, the short-interest ratio is presently 6.8 days.

Institutional Investors Weigh In On Geospace Technologies

A number of institutional investors and hedge funds have recently modified their holdings of GEOS. First Eagle Investment Management LLC lifted its position in shares of Geospace Technologies by 1,200.2% during the 4th quarter. First Eagle Investment Management LLC now owns 283,321 shares of the oil and gas company’s stock valued at $2,839,000 after acquiring an additional 261,530 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of Geospace Technologies during the 4th quarter valued at $2,542,000. Tieton Capital Management LLC lifted its position in shares of Geospace Technologies by 22.5% during the 4th quarter. Tieton Capital Management LLC now owns 882,797 shares of the oil and gas company’s stock valued at $8,846,000 after acquiring an additional 161,905 shares during the last quarter. US Bancorp DE lifted its position in shares of Geospace Technologies by 120.0% during the 3rd quarter. US Bancorp DE now owns 71,033 shares of the oil and gas company’s stock valued at $734,000 after acquiring an additional 38,752 shares during the last quarter. Finally, Grace & White Inc. NY lifted its holdings in shares of Geospace Technologies by 15.3% in the third quarter. Grace & White Inc. NY now owns 216,096 shares of the oil and gas company’s stock valued at $2,234,000 after purchasing an additional 28,752 shares in the last quarter. Institutional investors and hedge funds own 57.15% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Geospace Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th.

Geospace Technologies Price Performance

GEOS opened at $9.23 on Wednesday. The company has a market capitalization of $118.33 million, a price-to-earnings ratio of -11.12 and a beta of 0.57. Geospace Technologies has a 1-year low of $8.03 and a 1-year high of $14.83. The business has a 50 day moving average price of $9.68 and a two-hundred day moving average price of $10.30.

Geospace Technologies (NASDAQ:GEOS) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.65 earnings per share for the quarter. Geospace Technologies had a positive return on equity of 4.61% and a negative net margin of 8.86%.

About Geospace Technologies

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.