Dawson Geophysical Co. (DWSN) Shares Down 2.8% on Insider Selling
Shares of Dawson Geophysical Co. (NASDAQ:DWSN) dropped 2.8% during mid-day trading on Tuesday after an insider sold shares in the company. The company 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 stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $7.02, for a total transaction of $28,009.80. Following the completion of the sale, the director now owns 351,111 shares in the company, valued at $2,464,799.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.70% of the company’s stock.
Several research analysts recently issued reports on DWSN shares. Zacks Investment Research raised shares of Dawson Geophysical from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Wednesday, July 20th. Raymond James Financial Inc. cut shares of Dawson Geophysical from an “outperform” rating to a “market perform” rating in a report on Thursday, August 25th.
The stock has a 50-day moving average of $7.32 and a 200-day moving average of $6.45. The stock’s market capitalization is $153.52 million.
Large investors have recently added to or reduced their stakes in the company. Granite Investment Partners LLC increased its stake 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. Strs Ohio bought a new stake in Dawson Geophysical during the second quarter valued at $613,000. Alambic Investment Management L.P. increased its stake 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. Beddow Capital Management Inc. bought a new stake in Dawson Geophysical during the first quarter valued at $10,268,000. Finally, Renaissance Technologies LLC increased its stake 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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