Ion Geophysical Corp. (IO) Trading Up 8.9%
Ion Geophysical Corp. (NYSE:IO) shares were up 8.9% on Monday . The company traded as high as $5.90 and last traded at $5.75, with a volume of 60,034 shares changing hands. The stock had previously closed at $5.28.
The company’s market cap is $67.53 million. The firm’s 50-day moving average price is $5.65 and its 200 day moving average price is $6.54.
Ion Geophysical Corp. (NYSE:IO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.85) EPS for the quarter, beating analysts’ consensus estimates of ($1.86) by $0.01. The company earned $36.15 million during the quarter, compared to the consensus estimate of $38.90 million. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.05) EPS. On average, analysts predict that Ion Geophysical Corp. will post ($7.24) earnings per share for the current fiscal year.
In other Ion Geophysical Corp. news, Director David H. Barr purchased 10,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was bought at an average cost 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 of the company’s stock, valued at $142,009.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James M. Lapeyre, Jr. purchased 46,000 shares of the stock in a transaction on Thursday, June 30th. The stock was acquired at an average price of $5.77 per share, with a total value of $265,420.00. Following the completion of the acquisition, the director now directly owns 627,309 shares of the company’s stock, valued at $3,619,572.93. 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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