Dawson Geophysical Company (NASDAQ:DWSN) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 361,549 shares, a drop of 68.7% from the June 15th total of 1,153,745 shares. Based on an average trading volume of 291,496 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.8% of the company’s shares are sold short.
Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Dawson Geophysical by 7.3% in the fourth quarter. State Street Corp now owns 254,235 shares of the oil and gas company’s stock worth $2,045,000 after buying an additional 17,322 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Dawson Geophysical by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,389,440 shares of the oil and gas company’s stock worth $11,171,000 after buying an additional 30,967 shares during the last quarter. Renaissance Technologies LLC increased its stake in Dawson Geophysical by 3.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,424,642 shares of the oil and gas company’s stock worth $11,454,000 after buying an additional 53,200 shares during the last quarter. Two Sigma Investments LP increased its stake in Dawson Geophysical by 5.2% in the fourth quarter. Two Sigma Investments LP now owns 47,996 shares of the oil and gas company’s stock worth $386,000 after buying an additional 2,384 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in Dawson Geophysical by 45.2% in the fourth quarter. Teachers Advisors LLC now owns 49,331 shares of the oil and gas company’s stock worth $397,000 after buying an additional 15,347 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.
Shares of Dawson Geophysical (DWSN) opened at 4.13 on Friday. The firm’s market capitalization is $89.55 million. The stock has a 50 day moving average price of $4.07 and a 200-day moving average price of $5.73. Dawson Geophysical has a 52 week low of $3.70 and a 52 week high of $9.00.
Dawson Geophysical (NASDAQ:DWSN) last released its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.08. The firm had revenue of $41.93 million for the quarter, compared to analyst estimates of $26.35 million. Dawson Geophysical had a negative return on equity of 23.01% and a negative net margin of 31.47%. Equities analysts anticipate that Dawson Geophysical will post ($1.25) earnings per share for the current year.
Several equities research analysts have issued reports on the company. ValuEngine cut Dawson Geophysical from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Zacks Investment Research raised Dawson Geophysical from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th.
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About Dawson Geophysical
Dawson Geophysical Company, formerly TGC Industries, Inc, is a provider of onshore seismic data acquisition and processing services with operations throughout the United States and Canada. The Company acquires and processes two-dimensional (2-D), three-dimensional (3-D) and multi-component seismic data for its clients, ranging from oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries.
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