Short Interest in Geospace Technologies Co. (NASDAQ:GEOS) Increases By 20.5%

Geospace Technologies Co. (NASDAQ:GEOS) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 183,100 shares, a growth of 20.5% from the August 31st total of 152,000 shares. Based on an average trading volume of 80,800 shares, the short-interest ratio is presently 2.3 days. Approximately 1.4% of the shares of the stock are short sold.

A number of institutional investors have recently bought and sold shares of GEOS. Rhumbline Advisers lifted its stake in Geospace Technologies by 9.0% in the first quarter. Rhumbline Advisers now owns 42,319 shares of the oil and gas company’s stock worth $271,000 after purchasing an additional 3,510 shares during the last quarter. State Street Corp lifted its stake in Geospace Technologies by 15.6% in the first quarter. State Street Corp now owns 382,475 shares of the oil and gas company’s stock worth $2,448,000 after purchasing an additional 51,690 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in Geospace Technologies by 22.1% in the first quarter. Ensign Peak Advisors Inc now owns 24,335 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 4,400 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Geospace Technologies by 609.7% in the first quarter. JPMorgan Chase & Co. now owns 41,695 shares of the oil and gas company’s stock worth $267,000 after purchasing an additional 35,820 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in Geospace Technologies by 289.7% in the first quarter. Moors & Cabot Inc. now owns 68,225 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 50,720 shares during the last quarter. 60.13% of the stock is owned by institutional investors and hedge funds.

NASDAQ:GEOS traded down $0.10 during midday trading on Thursday, hitting $6.08. The company had a trading volume of 108,791 shares, compared to its average volume of 87,067. Geospace Technologies has a 52-week low of $4.61 and a 52-week high of $17.66. The stock’s fifty day moving average price is $6.44 and its 200-day moving average price is $6.63. The company has a market capitalization of $84.44 million, a PE ratio of -11.88 and a beta of 2.05.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas company reported ($0.17) earnings per share for the quarter. The business had revenue of $22.70 million during the quarter. Geospace Technologies had a negative return on equity of 9.23% and a negative net margin of 6.50%.

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.

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