Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. bought 19,600 shares of Ion Geophysical Corp. stock in a transaction on Monday, October 10th. The shares were acquired at an average cost of $6.68 per share, for a total transaction of $130,928.00. Following the completion of the acquisition, the director now directly owns 157,773 shares in the company, valued at $1,053,923.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Ion Geophysical Corp. (NYSE:IO) traded down 5.237% during midday trading on Tuesday, reaching $6.406. 30,510 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $6.04 and a 200-day moving average of $6.68. The stock’s market cap is $75.50 million. Ion Geophysical Corp. has a 12 month low of $2.55 and a 12 month high of $10.50.
Ion Geophysical Corp. (NYSE:IO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.86) by $0.01. Ion Geophysical Corp. had a negative net margin of 42.51% and a negative return on equity of 85.96%. The firm had revenue of $36.15 million for the quarter, compared to the consensus estimate of $38.90 million. During the same period in the prior year, the firm posted ($4.05) earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts predict that Ion Geophysical Corp. will post ($7.28) earnings per share for the current year.
Large investors have recently made changes to their positions in the company. Spark Investment Management LLC increased 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 purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth about $165,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth about $189,000. Paloma Partners Management Co purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth about $232,000. Finally, Brookfield Asset Management Inc. purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth about $235,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.
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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