Ion Geophysical Corp. (NYSE:IO) dropped 3.3% on Thursday . The stock traded as low as $5.53 and last traded at $5.65, with a volume of 58,127 shares changing hands. The stock had previously closed at $5.84.

The firm’s 50 day moving average is $5.57 and its 200-day moving average is $6.59. The company’s market cap is $66.65 million.

Ion Geophysical Corp. (NYSE:IO) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.85) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.86) by $0.01. The company earned $36.15 million during the quarter, compared to the consensus estimate of $38.90 million. During the same quarter in the previous year, the business earned ($4.05) EPS. Ion Geophysical Corp.’s revenue was down 1.7% on a year-over-year basis. Equities research analysts predict that Ion Geophysical Corp. will post ($7.24) earnings per share for the current year.

In other Ion Geophysical Corp. news, Director James M. Lapeyre, Jr. purchased 13,100 shares of Ion Geophysical Corp. stock in a transaction that occurred on Wednesday, August 31st. The stock was acquired at an average price of $5.96 per share, for a total transaction of $78,076.00. Following the completion of the acquisition, the director now owns 157,773 shares of the company’s stock, valued at approximately $940,327.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Lapeyre, Jr. purchased 8,000 shares of Ion Geophysical Corp. stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $5.98 per share, with a total value of $47,840.00. Following the acquisition, the director now directly owns 157,773 shares of the company’s stock, valued at approximately $943,482.54. 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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