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

Geospace Technologies Co. (NASDAQ:GEOS - Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 362,400 shares, a decline of 5.6% from the January 15th total of 384,100 shares. Based on an average daily volume of 53,300 shares, the short-interest ratio is currently 6.8 days. Currently, 3.1% of the company's shares are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in Geospace Technologies by 40.7% in the third quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 872 shares during the period. EagleClaw Capital Managment LLC bought a new position in shares of Geospace Technologies during the 3rd quarter worth about $114,000. Bank of America Corp DE grew its stake in shares of Geospace Technologies by 45.0% in the 4th quarter. Bank of America Corp DE now owns 12,191 shares of the oil and gas company's stock valued at $122,000 after buying an additional 3,782 shares during the period. Mariner LLC bought a new stake in Geospace Technologies in the 4th quarter valued at about $127,000. Finally, JPMorgan Chase & Co. raised its stake in Geospace Technologies by 148.9% during the 4th quarter. JPMorgan Chase & Co. now owns 13,577 shares of the oil and gas company's stock worth $136,000 after buying an additional 8,123 shares during the period. Institutional investors and hedge funds own 57.15% of the company's stock.

Geospace Technologies Stock Performance

Shares of GEOS stock traded down $0.35 during mid-day trading on Friday, hitting $8.35. The company's stock had a trading volume of 108,939 shares, compared to its average volume of 61,639. Geospace Technologies has a 52 week low of $8.03 and a 52 week high of $14.83. The company's fifty day simple moving average is $9.59 and its 200-day simple moving average is $10.29. The company has a market cap of $106.71 million, a PE ratio of -10.06 and a beta of 0.57.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last issued 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%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Geospace Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th.

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.