Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. purchased 19,900 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was acquired at an average price of $6.79 per share, with a total value of $135,121.00. Following the purchase, the director now owns 155,273 shares in the company, valued at $1,054,303.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Ion Geophysical Corp. (NYSE:IO) opened at 6.64 on Thursday. The firm’s 50-day moving average price is $5.97 and its 200 day moving average price is $6.73. Ion Geophysical Corp. has a 1-year low of $2.55 and a 1-year high of $12.15. The stock’s market capitalization is $78.26 million.
Ion Geophysical Corp. (NYSE:IO) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.86) by $0.01. The company had revenue of $36.15 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company posted ($4.05) earnings per share. Equities research analysts expect that Ion Geophysical Corp. will post ($7.28) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Osterweis Capital Management Inc. purchased a new position in shares of Ion Geophysical Corp. during the second quarter valued at about $648,000. Oxford Asset Management raised its position in shares of Ion Geophysical Corp. by 192.8% in the second quarter. Oxford Asset Management now owns 112,733 shares of the company’s stock valued at $702,000 after buying an additional 74,225 shares during the last quarter. Bridgeway Capital Management Inc. raised its position in shares of Ion Geophysical Corp. by 148.1% in the second quarter. Bridgeway Capital Management Inc. now owns 109,150 shares of the company’s stock valued at $680,000 after buying an additional 65,150 shares during the last quarter. Pax World Management LLC purchased a new position in shares of Ion Geophysical Corp. during the second quarter valued at about $312,000. Finally, Spark Investment Management LLC purchased a new position in shares of Ion Geophysical Corp. during the first quarter valued at about $400,000. 41.70% of the stock is currently owned by institutional investors.
About Ion Geophysical Corp.
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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