SAExploration Holdings Inc (NASDAQ:SAEX) was the recipient of a large drop in short interest during 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. Based on an average daily volume of 205,200 shares, the days-to-cover ratio is presently 1.8 days. Currently, 15.3% of the shares of the company are short sold.

In related news, COO Brian A. Beatty sold 44,311 shares of SAExploration 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 sale, the chief operating officer now directly owns 41,017 shares in the company, valued at approximately $125,101.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 8.66% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Dupont Capital Management Corp increased its stake in SAExploration by 1.1% during the 1st quarter. Dupont Capital Management Corp now owns 589,637 shares of the oil and gas company’s stock valued at $1,999,000 after buying an additional 6,323 shares during the period. Citadel Advisors LLC acquired a new position in SAExploration during the 2nd quarter valued at about $58,000. Bank of New York Mellon Corp acquired a new position in SAExploration during the 2nd quarter valued at about $87,000. Vanguard Group Inc. increased its stake in SAExploration by 286.2% during the 2nd quarter. Vanguard Group Inc. now owns 138,553 shares of the oil and gas company’s stock valued at $499,000 after buying an additional 102,679 shares during the period. Finally, BlueMountain Capital Management LLC increased its stake in SAExploration by 99.6% during the 2nd quarter. BlueMountain Capital Management LLC now owns 240,432 shares of the oil and gas company’s stock valued at $866,000 after buying an additional 119,980 shares during the period. 33.16% of the stock is currently owned by hedge funds and other institutional investors.

SAExploration stock traded up $0.11 during trading hours on Thursday, hitting $3.27. 93,709 shares of the company traded hands, compared to its average volume of 607,065. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 4.52. The firm’s 50-day simple moving average is $3.38 and its two-hundred day simple moving average is $3.59. SAExploration has a 1-year low of $1.82 and a 1-year high of $32.00.

SAExploration (NASDAQ:SAEX) last released its earnings results on Monday, May 13th. The oil and gas company reported $0.26 EPS 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 raised 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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