Ion Geophysical Corp. (IO) Stock Price Down 4%
Ion Geophysical Corp. (NYSE:IO) shares were down 4% during trading on Monday . The stock traded as low as $5.23 and last traded at $5.33, with a volume of 50,669 shares. The stock had previously closed at $5.55.
The company has a 50-day moving average of $6.29 and a 200-day moving average of $6.58. The company’s market cap is $63.38 million.
Ion Geophysical Corp. (NYSE:IO) last issued 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. The firm earned $22.70 million during the quarter, compared to the consensus estimate of $50 million. During the same quarter in the previous year, the business posted ($4.65) EPS. The business’s revenue for the quarter was down 44.1% compared to the same quarter last year. Equities research analysts expect that Ion Geophysical Corp. will post ($7.24) earnings per share for the current year.
In related news, Director James M. Lapeyre, Jr. bought 46,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average cost of $5.77 per share, for a total transaction of $265,420.00. Following the acquisition, the director now directly owns 627,309 shares of the company’s stock, valued at approximately $3,619,572.93. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David H. Barr bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was bought at an average price of $6.95 per share, for a total transaction of $69,500.00. Following the completion of the acquisition, 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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