Ion Geophysical Corporation (IO) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Ion Geophysical Corporation (NYSE:IO) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Shares of Ion Geophysical Corporation (IO) traded up $1.85 during trading hours on Thursday, hitting $13.80. The stock had a trading volume of 380,108 shares, compared to its average volume of 105,367. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 3.88. Ion Geophysical Corporation has a 52-week low of $3.20 and a 52-week high of $13.90.

Ion Geophysical Corporation (NYSE:IO) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.78. The company had revenue of $61.10 million during the quarter. Ion Geophysical Corporation had a negative net margin of 20.19% and a negative return on equity of 102.40%. During the same quarter in the prior year, the company posted ($3.30) earnings per share.

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In other Ion Geophysical Corporation news, EVP Jamey S. Seely sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $5.02, for a total transaction of $62,750.00. Following the completion of the transaction, the executive vice president now owns 103,935 shares of the company’s stock, valued at $521,753.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.20% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in Ion Geophysical Corporation stock. California Public Employees Retirement System lifted its holdings in Ion Geophysical Corporation (NYSE:IO) by 203.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,966 shares of the oil and gas company’s stock after purchasing an additional 29,500 shares during the period. California Public Employees Retirement System owned about 0.37% of Ion Geophysical Corporation worth $213,000 at the end of the most recent quarter. 33.57% of the stock is currently owned by hedge funds and other institutional investors.

Ion Geophysical Corporation Company Profile

ION Geophysical Corporation is a technology-focused company. It provides geophysical technology, services and solutions to the global oil and gas industry. Its offerings are designed to enable oil and gas exploration and production (E&P) companies to obtain images of the Earth’s subsurface. It offers services and products through three segments: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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