Geospace Technologies Co. (NASDAQ:GEOS) Short Interest Update

Geospace Technologies Co. (NASDAQ:GEOS) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 327,300 shares, a drop of 16.0% from the September 30th total of 389,800 shares. Based on an average daily trading volume, of 56,700 shares, the short-interest ratio is currently 5.8 days. Currently, 2.7% of the shares of the company are short sold.

Shares of GEOS stock traded up $0.30 on Friday, reaching $13.52. The stock had a trading volume of 34,100 shares, compared to its average volume of 38,521. Geospace Technologies has a 1 year low of $9.93 and a 1 year high of $16.92. The company has a 50 day simple moving average of $14.76 and a 200 day simple moving average of $14.28.

Several hedge funds have recently modified their holdings of the company. California Public Employees Retirement System increased its holdings in shares of Geospace Technologies by 5.8% in the third quarter. California Public Employees Retirement System now owns 111,900 shares of the oil and gas company’s stock worth $1,720,000 after purchasing an additional 6,100 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Geospace Technologies by 10.8% in the third quarter. Rhumbline Advisers now owns 36,266 shares of the oil and gas company’s stock worth $557,000 after purchasing an additional 3,544 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Geospace Technologies by 126.0% in the third quarter. State of Alaska Department of Revenue now owns 10,487 shares of the oil and gas company’s stock worth $161,000 after purchasing an additional 5,846 shares during the last quarter. Morgan Stanley increased its holdings in shares of Geospace Technologies by 16.9% in the second quarter. Morgan Stanley now owns 59,002 shares of the oil and gas company’s stock worth $892,000 after purchasing an additional 8,551 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Geospace Technologies by 2.9% in the second quarter. Invesco Ltd. now owns 46,648 shares of the oil and gas company’s stock worth $705,000 after purchasing an additional 1,335 shares during the last quarter. 64.56% of the stock is currently owned by hedge funds and other institutional investors.

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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