Ion Geophysical Corp. (IO) Trading 5.9% Higher
Ion Geophysical Corp. (NYSE:IO) shares traded up 5.9% during mid-day trading on Tuesday . The company traded as high as $6.59 and last traded at $6.48, with a volume of 56,911 shares trading hands. The stock had previously closed at $6.12.
The firm’s market capitalization is $77.09 million. The stock’s 50-day moving average price is $6.60 and its 200 day moving average price is $6.68.
Ion Geophysical Corp. (NYSE:IO) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($3.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.20) by $2.10. The firm earned $22.70 million during the quarter, compared to analysts’ expectations of $50 million. The business’s revenue was down 44.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($4.65) EPS. Analysts expect that Ion Geophysical Corp. will post ($7.24) earnings per share for the current fiscal year.
In other Ion Geophysical Corp. news, Director James M. Lapeyre, Jr. acquired 46,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were purchased at an average cost of $5.77 per share, for a total transaction of $265,420.00. Following the transaction, the director now owns 627,309 shares in the company, valued at $3,619,572.93. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David H. Barr bought 10,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was purchased at an average price of $6.95 per share, with a total value of $69,500.00. Following the purchase, the director now owns 20,433 shares in the company, valued at $142,009.35. The disclosure for this purchase can be found here.
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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