Dawson Geophysical Co. (DWSN) Trading Down 2.8% Following Insider Selling
Shares of Dawson Geophysical Co. (NASDAQ:DWSN) were down 2.8% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $6.63 and last traded at $6.90, with a volume of 57,263 shares changing hands. The stock had previously closed at $7.10.
Specifically, Director Allen T. Mcinnes sold 3,990 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $7.02, for a total value of $28,009.80. Following the completion of the transaction, the director now owns 351,111 shares of the company’s stock, valued at approximately $2,464,799.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.
Several research analysts recently weighed in on DWSN shares. Zacks Investment Research downgraded shares of Dawson Geophysical from a “buy” rating to a “sell” rating in a research note on Wednesday, August 10th. Raymond James Financial Inc. downgraded shares of Dawson Geophysical from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 25th.
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The company’s 50-day moving average price is $7.31 and its 200-day moving average price is $6.43. The company’s market capitalization is $149.19 million.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Granite Investment Partners LLC boosted its position in Dawson Geophysical by 25.3% in the first quarter. Granite Investment Partners LLC now owns 304,086 shares of the company’s stock valued at $1,390,000 after buying an additional 61,426 shares during the last quarter. Beddow Capital Management Inc. acquired a new position in Dawson Geophysical during the first quarter valued at about $10,268,000. Strs Ohio acquired a new position in Dawson Geophysical during the second quarter valued at about $613,000. Alambic Investment Management L.P. boosted its position in Dawson Geophysical by 170.0% in the second quarter. Alambic Investment Management L.P. now owns 27,265 shares of the company’s stock valued at $222,000 after buying an additional 17,165 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Dawson Geophysical by 6.7% in the first quarter. Renaissance Technologies LLC now owns 1,065,942 shares of the company’s stock valued at $4,871,000 after buying an additional 66,600 shares during the last quarter. 69.77% of the stock is owned by institutional investors.
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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