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

SAExploration Holdings Inc (NASDAQ:SAEX) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totalling 501,300 shares, a drop of 20.3% from the May 30th total of 629,100 shares. Currently, 20.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 290,000 shares, the short-interest ratio is currently 1.7 days.

Shares of NASDAQ:SAEX traded up $0.01 during midday trading on Friday, hitting $3.58. The company’s stock had a trading volume of 100,124 shares, compared to its average volume of 95,297. The business’s 50 day moving average is $3.28. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.52. SAExploration has a 12-month low of $1.82 and a 12-month high of $53.80.

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

Separately, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

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

An institutional investor recently raised its position in SAExploration stock. Dupont Capital Management Corp lifted its position in shares of SAExploration Holdings Inc (NASDAQ:SAEX) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 589,637 shares of the oil and gas company’s stock after acquiring an additional 6,323 shares during the period. Dupont Capital Management Corp owned approximately 14.55% of SAExploration worth $1,999,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 32.48% of the company’s stock.

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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