SAExploration Holdings Inc (NASDAQ:SAEX) Sees Significant Drop in Short Interest

SAExploration Holdings Inc (NASDAQ:SAEX) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 377,200 shares, a drop of 14.2% from the June 30th total of 439,500 shares. Currently, 15.3% of the company’s stock are short sold. Based on an average daily volume of 205,200 shares, the days-to-cover ratio is presently 1.8 days.

NASDAQ SAEX traded up $0.11 during trading on Thursday, reaching $3.27. The company’s stock had a trading volume of 93,709 shares, compared to its average volume of 607,065. The company has a debt-to-equity ratio of 4.52, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50-day moving average price of $3.38 and a 200-day moving average price of $3.59. SAExploration has a 1-year low of $1.82 and a 1-year high of $32.00.

SAExploration (NASDAQ:SAEX) last posted its earnings results on Monday, May 13th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $93.39 million during the quarter. SAExploration had a negative net margin of 51.35% and a negative return on equity of 367.18%.

In related news, COO Brian A. Beatty sold 44,311 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $3.05, for a total transaction of $135,148.55. Following the completion of the sale, the chief operating officer now directly owns 41,017 shares in the company, valued at $125,101.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.66% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dupont Capital Management Corp lifted its stake in SAExploration by 1.1% in the first quarter. Dupont Capital Management Corp now owns 589,637 shares of the oil and gas company’s stock valued at $1,999,000 after acquiring an additional 6,323 shares during the last quarter. Citadel Advisors LLC acquired a new stake in SAExploration in the second quarter valued at approximately $58,000. Bank of New York Mellon Corp acquired a new stake in SAExploration in the second quarter valued at approximately $87,000. Vanguard Group Inc. lifted its stake in SAExploration by 286.2% in the second quarter. Vanguard Group Inc. now owns 138,553 shares of the oil and gas company’s stock valued at $499,000 after acquiring an additional 102,679 shares during the last quarter. Finally, BlueMountain Capital Management LLC lifted its stake in SAExploration by 99.6% in the second quarter. BlueMountain Capital Management LLC now owns 240,432 shares of the oil and gas company’s stock valued at $866,000 after acquiring an additional 119,980 shares during the last quarter. Hedge funds and other institutional investors own 33.16% of the company’s stock.

Separately, ValuEngine upgraded shares of SAExploration from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

About SAExploration

SAExploration Holdings, Inc, an oilfield services company, provides seismic data acquisition and logistical support services in Alaska, Canada, South America, West Africa, and Southeast Asia. Its seismic data acquisition services include program design, planning and permitting, camp service, survey, drilling, recording, reclamation, and in-field data processing.

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