Ion Geophysical Corp. (IO) Shares Down 3.3%
Ion Geophysical Corp. (NYSE:IO) shares traded down 3.3% during mid-day trading on Thursday . The stock traded as low as $5.53 and last traded at $5.65, with a volume of 58,127 shares. The stock had previously closed at $5.84.
The firm’s market capitalization is $67.30 million. The stock has a 50-day moving average of $5.56 and a 200 day moving average of $6.58.
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 analysts’ consensus estimates of ($1.86) by $0.01. During the same quarter last year, the firm posted ($4.05) EPS. The business earned $36.15 million during the quarter, compared to analyst estimates of $38.90 million. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts forecast that Ion Geophysical Corp. will post ($7.24) EPS for the current year.
In other news, Director James M. Lapeyre, Jr. purchased 46,000 shares of the stock in a transaction on Thursday, June 30th. The stock was bought at an average price 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Lapeyre, Jr. purchased 8,000 shares of the stock in a transaction on Monday, August 29th. The shares were purchased 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 in the company, valued at $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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