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

Geospace Technologies Co. (NASDAQ:GEOS) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 399,500 shares, an increase of 5.2% from the December 15th total of 379,900 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average daily volume of 42,500 shares, the days-to-cover ratio is presently 9.4 days.

Analyst Ratings Changes

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

Institutional Trading of Geospace Technologies

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in Geospace Technologies in the 2nd quarter worth approximately $314,000. Rhumbline Advisers grew its stake in Geospace Technologies by 2,370.7% in the 2nd quarter. Rhumbline Advisers now owns 14,824 shares of the oil and gas company’s stock worth $133,000 after buying an additional 14,224 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Geospace Technologies by 14.8% in the 2nd quarter. Renaissance Technologies LLC now owns 47,200 shares of the oil and gas company’s stock worth $424,000 after buying an additional 6,100 shares during the last quarter. Glenorchy Capital Ltd raised its position in shares of Geospace Technologies by 2.7% during the 3rd quarter. Glenorchy Capital Ltd now owns 186,217 shares of the oil and gas company’s stock valued at $1,925,000 after buying an additional 4,824 shares in the last quarter. Finally, Grace & White Inc. NY lifted its holdings in shares of Geospace Technologies by 15.3% during the 3rd quarter. Grace & White Inc. NY now owns 216,096 shares of the oil and gas company’s stock worth $2,234,000 after acquiring an additional 28,752 shares during the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

Geospace Technologies Stock Down 1.7 %

Shares of GEOS stock opened at $9.74 on Monday. The firm has a market cap of $124.87 million, a P/E ratio of -18.04 and a beta of 0.60. The company has a 50 day moving average of $10.78 and a 200-day moving average of $10.33. Geospace Technologies has a 12-month low of $8.09 and a 12-month high of $17.09.

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.