Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. purchased 5,100 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were acquired at an average price of $5.93 per share, for a total transaction of $30,243.00. Following the completion of the transaction, the director now directly owns 157,773 shares of the company’s stock, valued at approximately $935,593.89. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Ion Geophysical Corp. (NYSE:IO) opened at 6.14 on Thursday. The firm’s market capitalization is $72.37 million. The company’s 50-day moving average is $5.80 and its 200-day moving average is $6.77. Ion Geophysical Corp. has a 52-week low of $2.55 and a 52-week high of $12.15.
Ion Geophysical Corp. (NYSE:IO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.86) by $0.01. The firm earned $36.15 million during the quarter, compared to analysts’ expectations of $38.90 million. Ion Geophysical Corp. had a negative net margin of 42.51% and a negative return on equity of 85.96%. Ion Geophysical Corp.’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.05) EPS. Equities analysts predict that Ion Geophysical Corp. will post ($7.24) earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Spark Investment Management LLC boosted its stake in Ion Geophysical Corp. by 47.6% in the second quarter. Spark Investment Management LLC now owns 73,200 shares of the company’s stock valued at $456,000 after buying an additional 23,600 shares during the period. TFS Capital LLC purchased a new stake in Ion Geophysical Corp. during the second quarter valued at approximately $165,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in Ion Geophysical Corp. during the second quarter valued at approximately $189,000. Paloma Partners Management Co purchased a new stake in Ion Geophysical Corp. during the second quarter valued at approximately $232,000. Finally, Brookfield Asset Management Inc. purchased a new stake in Ion Geophysical Corp. during the second quarter valued at approximately $235,000. Institutional investors own 42.76% of the company’s stock.
Ion Geophysical Corp. Company Profile
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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