Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. bought 18,900 shares of the firm’s stock in a transaction on Thursday, September 29th. The shares were purchased at an average price of $6.36 per share, for a total transaction of $120,204.00. Following the completion of the transaction, the director now owns 157,773 shares of the company’s stock, valued at approximately $1,003,436.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Ion Geophysical Corp. (NYSE:IO) opened at 6.70 on Tuesday. The stock has a 50 day moving average price of $5.92 and a 200-day moving average price of $6.75. The firm’s market capitalization is $78.97 million. Ion Geophysical Corp. has a 12-month low of $2.55 and a 12-month high of $12.15.
Ion Geophysical Corp. (NYSE:IO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.86) by $0.01. The business had revenue of $36.15 million for the quarter, compared to analysts’ expectations of $38.90 million. Ion Geophysical Corp. had a negative return on equity of 85.96% and a negative net margin of 42.51%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.05) EPS. On average, equities research analysts forecast that Ion Geophysical Corp. will post ($7.28) EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Spark Investment Management LLC boosted its stake in shares of Ion Geophysical Corp. by 47.6% in the second quarter. Spark Investment Management LLC now owns 73,200 shares of the company’s stock worth $456,000 after buying an additional 23,600 shares during the last quarter. TFS Capital LLC bought a new stake in shares of Ion Geophysical Corp. during the second quarter worth $165,000. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Ion Geophysical Corp. during the second quarter worth $189,000. Paloma Partners Management Co bought a new stake in shares of Ion Geophysical Corp. during the second quarter worth $232,000. Finally, Brookfield Asset Management Inc. bought a new stake in shares of Ion Geophysical Corp. during the second quarter worth $235,000. Institutional investors and hedge funds own 41.70% of the company’s stock.
Ion Geophysical Corp. Company Profile
ION Geophysical Corporation is a technology focused company that provides geophysical technology, services and solutions to the global oil and gas industry. The Company offers services and products through four segments: Solutions, Systems, Software and Ocean Bottom Services (OBS). The Company’s Solutions segment provides over two service activities: Ventures group and Imaging Services group.
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