Dawson Geophysical (NASDAQ:DWSN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Dawson Geophysical Company offers onshore seismic data acquisition services primarily in the United States and Canada. The company acquires and processes 2-D, 3-D and multi-component seismic data for oil and gas companies. Dawson Operating Company, formerly known as Dawson Geophysical Company, is headquartered in Midland, Texas. “

Dawson Geophysical (DWSN) traded up $0.10 during mid-day trading on Tuesday, hitting $5.07. The company had a trading volume of 53,322 shares, compared to its average volume of 69,200. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.01 and a quick ratio of 4.01. The firm has a market cap of $107.94, a price-to-earnings ratio of -3.25 and a beta of 1.20. Dawson Geophysical has a 1-year low of $3.70 and a 1-year high of $8.55.

Hedge funds and other institutional investors have recently modified their holdings of the business. Moors & Cabot Inc. acquired a new position in Dawson Geophysical in the 2nd quarter valued at $103,000. GSA Capital Partners LLP acquired a new position in Dawson Geophysical in the 2nd quarter valued at $129,000. Walleye Trading LLC grew its holdings in Dawson Geophysical by 143.9% in the 2nd quarter. Walleye Trading LLC now owns 16,100 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 9,500 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in Dawson Geophysical by 1,134.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 18,132 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 16,663 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Dawson Geophysical in the 1st quarter valued at $107,000. 72.14% of the stock is currently owned by hedge funds and other institutional investors.

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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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