Ion Geophysical Corp. (IO) Stock Price Up 5.9%
Ion Geophysical Corp. (NYSE:IO)’s share price rose 5.9% during trading on Tuesday . The stock 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 company’s 50-day moving average is $6.57 and its 200-day moving average is $6.68. The firm’s market cap is $74.68 million.
Ion Geophysical Corp. (NYSE:IO) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($3.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by $2.10. During the same period in the prior year, the firm posted ($4.65) earnings per share. The company had revenue of $22.70 million for the quarter, compared to analyst estimates of $50 million. The company’s revenue for the quarter was down 44.1% compared to the same quarter last year. Analysts anticipate that Ion Geophysical Corp. will post ($7.24) EPS for the current fiscal year.
In other Ion Geophysical Corp. news, Director James M. Lapeyre, Jr. bought 46,000 shares of the stock in a transaction dated Thursday, June 30th. The shares were bought at an average cost of $5.77 per share, for a total transaction of $265,420.00. Following the purchase, the director now directly owns 627,309 shares of the company’s stock, valued at approximately $3,619,572.93. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David H. Barr bought 10,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were acquired at an average price of $6.95 per share, for a total transaction of $69,500.00. Following the completion of the purchase, the director now directly 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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