Short Interest in Dawson Geophysical Company (NASDAQ:DWSN) Drops By 38.7%

Dawson Geophysical Company (NASDAQ:DWSN) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 69,302 shares, a drop of 38.7% from the May 14th total of 113,137 shares. Based on an average daily volume of 107,546 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the company’s stock are short sold.

Analysts Set New Price Targets

DWSN has been the subject of several research reports. Wall Street Zen raised shares of Dawson Geophysical from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Dawson Geophysical in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Investors Weigh In On Dawson Geophysical

A number of hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC raised its stake in shares of Dawson Geophysical by 67.9% during the 3rd quarter. Citadel Advisors LLC now owns 60,599 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 24,504 shares during the period. Pinnacle Associates Ltd. increased its holdings in Dawson Geophysical by 19.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 52,360 shares of the oil and gas company’s stock worth $92,000 after acquiring an additional 8,360 shares during the last quarter. Jane Street Group LLC purchased a new stake in Dawson Geophysical in the 2nd quarter worth about $52,000. Hillsdale Investment Management Inc. purchased a new stake in Dawson Geophysical in the 1st quarter worth about $119,000. Finally, Two Sigma Investments LP purchased a new stake in Dawson Geophysical in the 3rd quarter worth about $52,000. 7.86% of the stock is currently owned by institutional investors.

Dawson Geophysical Stock Performance

NASDAQ DWSN opened at $4.63 on Monday. The stock has a market capitalization of $143.78 million, a price-to-earnings ratio of 30.87 and a beta of -0.08. Dawson Geophysical has a one year low of $1.26 and a one year high of $5.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 1.01. The business’s fifty day moving average is $3.56 and its 200-day moving average is $2.84.

Dawson Geophysical (NASDAQ:DWSN) last released its earnings results on Thursday, May 14th. The oil and gas company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.54. The company had revenue of $36.70 million for the quarter, compared to analysts’ expectations of $27.20 million. Dawson Geophysical had a return on equity of 26.74% and a net margin of 4.91%.

Dawson Geophysical Company Profile

Dawson Geophysical Company provides land-based seismic data acquisition services to the oil and gas industry. Through its subsidiaries, the company specializes in the design, deployment and operation of seismic crews that collect high-fidelity subsurface data. Its services support exploration and development programs by delivering two-dimensional (2D), three-dimensional (3D) and time-lapse (4D) seismic surveys that enable clients to make informed drilling and reservoir management decisions.

The company’s fleet includes vibratory and impulsive seismic sources, high-capacity source trucks, geophone sensor arrays and digital recording systems.