Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. acquired 13,400 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was bought at an average price of $5.69 per share, with a total value of $76,246.00. Following the purchase, the director now directly owns 157,773 shares of the company’s stock, valued at $897,728.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Ion Geophysical Corp. (NYSE:IO) opened at 5.95 on Tuesday. Ion Geophysical Corp. has a 1-year low of $2.55 and a 1-year high of $12.15. The firm has a 50-day moving average of $5.76 and a 200 day moving average of $6.78. The firm’s market cap is $70.13 million.
Ion Geophysical Corp. (NYSE:IO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.86) by $0.01. The company had revenue of $36.15 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned ($4.05) EPS. On average, analysts predict that Ion Geophysical Corp. will post ($7.24) EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Oxford Asset Management raised its position in Ion Geophysical Corp. by 192.8% in the second quarter. Oxford Asset Management now owns 112,733 shares of the company’s stock valued at $702,000 after buying an additional 74,225 shares during the last quarter. Bridgeway Capital Management Inc. raised its position in Ion Geophysical Corp. by 148.1% in the second quarter. Bridgeway Capital Management Inc. now owns 109,150 shares of the company’s stock valued at $680,000 after buying an additional 65,150 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in Ion Geophysical Corp. during the second quarter valued at $648,000. Spark Investment Management LLC raised its position 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 last quarter. Finally, Pax World Management LLC acquired a new position in Ion Geophysical Corp. during the second quarter valued at $312,000. Institutional investors and hedge funds own 42.76% of the company’s stock.
About Ion Geophysical Corp.
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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