SAExploration (NASDAQ:SAEX) Stock Price Down 31.7%

SAExploration Holdings Inc (NASDAQ:SAEX) shares fell 31.7% during mid-day trading on Friday . The company traded as low as $1.89 and last traded at $2.22, 601,324 shares changed hands during trading. A decline of 1% from the average session volume of 607,382 shares. The stock had previously closed at $3.25.

Separately, ValuEngine upgraded SAExploration from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.52. The business has a 50-day moving average price of $3.35 and a 200-day moving average price of $3.58.

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

In other news, COO Brian A. Beatty sold 44,311 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $3.05, for a total transaction of $135,148.55. Following the sale, the chief operating officer now directly owns 41,017 shares in the company, valued at $125,101.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.66% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dupont Capital Management Corp increased its position in shares of SAExploration by 1.1% during the first quarter. Dupont Capital Management Corp now owns 589,637 shares of the oil and gas company’s stock valued at $1,999,000 after purchasing an additional 6,323 shares during the period. Vanguard Group Inc. increased its position in shares of SAExploration by 286.2% during the second quarter. Vanguard Group Inc. now owns 138,553 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 102,679 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of SAExploration during the second quarter valued at approximately $87,000. Citadel Advisors LLC bought a new stake in shares of SAExploration during the second quarter valued at approximately $58,000. Finally, BlueMountain Capital Management LLC increased its position in shares of SAExploration by 99.6% during the second quarter. BlueMountain Capital Management LLC now owns 240,432 shares of the oil and gas company’s stock valued at $866,000 after purchasing an additional 119,980 shares during the period. Institutional investors and hedge funds own 33.16% of the company’s stock.

About SAExploration (NASDAQ:SAEX)

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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