Dawson Geophysical Co (NASDAQ:DWSN) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 663,080 shares, a drop of 26.5% from the August 15th total of 902,008 shares. Based on an average daily volume of 42,004 shares, the days-to-cover ratio is currently 15.8 days. Currently, 3.2% of the company’s shares are sold short.
A number of brokerages have weighed in on DWSN. ValuEngine lowered shares of Dawson Geophysical from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Zacks Investment Research downgraded shares of Dawson Geophysical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Finally, Raymond James downgraded shares of Dawson Geophysical from a “strong-buy” rating to an “outperform” rating in a research note on Friday, August 3rd.
Shares of DWSN stock opened at $5.76 on Tuesday. Dawson Geophysical has a 52 week low of $4.07 and a 52 week high of $8.40. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $133.86 million, a PE ratio of -4.17 and a beta of 0.99.
Dawson Geophysical (NASDAQ:DWSN) last issued its earnings results on Thursday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.11. Dawson Geophysical had a negative net margin of 8.62% and a negative return on equity of 10.51%. The business had revenue of $36.16 million for the quarter, compared to the consensus estimate of $36.00 million. equities analysts expect that Dawson Geophysical will post -0.75 earnings per share for the current year.
In related news, Director William J. Barrett purchased 16,600 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were bought at an average price of $5.62 per share, for a total transaction of $93,292.00. Following the acquisition, the director now directly owns 754,115 shares in the company, valued at $4,238,126.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Barrett purchased 18,280 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was bought at an average price of $5.76 per share, for a total transaction of $105,292.80. Following the acquisition, the director now owns 729,115 shares in the company, valued at $4,199,702.40. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 36,650 shares of company stock worth $208,851. 7.97% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Dawson Geophysical by 101.2% in the 2nd quarter. BlackRock Inc. now owns 1,945,151 shares of the oil and gas company’s stock valued at $15,366,000 after acquiring an additional 978,357 shares during the period. Renaissance Technologies LLC raised its stake in shares of Dawson Geophysical by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,796,986 shares of the oil and gas company’s stock valued at $14,196,000 after acquiring an additional 94,224 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Dawson Geophysical by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,660,621 shares of the oil and gas company’s stock valued at $13,119,000 after acquiring an additional 118,518 shares during the period. Grace & White Inc. NY raised its stake in shares of Dawson Geophysical by 0.8% in the 2nd quarter. Grace & White Inc. NY now owns 1,046,301 shares of the oil and gas company’s stock valued at $8,266,000 after acquiring an additional 8,159 shares during the period. Finally, First Wilshire Securities Management Inc. raised its stake in shares of Dawson Geophysical by 3.4% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 550,412 shares of the oil and gas company’s stock valued at $4,348,000 after acquiring an additional 18,051 shares during the period. 68.78% of the stock is currently owned by institutional investors and hedge funds.
Dawson Geophysical Company Profile
Dawson Geophysical Company provides onshore seismic data acquisition services in the United States and Canada. The company acquires and processes 2-D, 3-D, and multi-component seismic data for its clients, including oil and gas companies, and independent oil and gas operators, as well as providers of multi-client data libraries.
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