Shares last traded at $4.81 quite a bit below the 50 day moving average of $5.41 and which is quite a bit lower than the 200 day moving average of $5.36. The 50 day moving average was down $-0.60 or -11.15% and the 200 day average went down $-0.55 or -10.26%. Trading was light with 3 shares changing hands by the end of trading on Tuesday. Shares saw a steep decrease in trading volume of 99.93% under the normal average daily volume.
Short traders are more bearish on shares of CGG considering the change in short interest. The stock experienced a rise in short interest between September 29, 2017 and October 13, 2017 of 42.09%. Short interest increased from 9,819 to 13,952 over that timeframe. Days to cover increased 3.0 to 4.0 and the percentage of shorted shares is 0.00% as of October 13.
CGG SA (CGG), launched on March 30, 1984, is a manufacturer of geophysical equipment. The Company is a provider of marine, land and airborne data acquisition services. The Company is a provider of a range of other geoscience services, including data imaging, seismic data characterization, geoscience and petroleum engineering consulting services, and collecting, developing and licensing geological data. The Business’s clients include independent, international and national oil companies. The Business’s business lines include Equipment, Marine Acquisition, Land Acquisition, Multi-Physics, Multi-Client and New Ventures, Subsurface Imaging, GeoSoftware and GeoConsulting. The Company operates through four segments: Contractual Data Acquisition; Geology, Geophysics & Reservoir (GGR); Equipment, and Non-Operated Resources. The Contractual Data Acquisition includes marine, and land and multi-physics. The GGR segment includes the Multi-client business line (development and management of seismic surveys that it undertakes and licenses to a range of clients on a non-exclusive basis) and the Subsurface Imaging and Reservoir business lines (processing and imaging of geophysical data, reservoir characterization, geophysical consulting and software services, geological data library and data management solutions). The Equipment segment consists of its manufacturing and sales activities for seismic equipment used for data acquisition, both on land and marine. The Non-Operated Resources segment consists of the costs of the non-operated marine resources, as well as all the costs of its Transformation Plan..