Insider Buying: James M. Lapeyre, Jr. Acquires 100,000 Shares of ION Geophysical Corp. Stock (IO)
ION Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $4.07 per share, with a total value of $407,000.00. Following the acquisition, the director now directly owns 1,659,113 shares of the company’s stock, valued at approximately $6,752,590. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Barclays downgraded shares of ION Geophysical Corp. from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 19th. They now have a $4.00 price target on the stock, down previously from $5.00.
Shares of ION Geophysical Corp. (NYSE:IO) traded up 2.44% on Thursday, hitting $3.985. The stock had a trading volume of 1,402,320 shares. ION Geophysical Corp. has a one year low of $2.81 and a one year high of $6.70. The stock’s 50-day moving average is $4.2 and its 200-day moving average is $3.82. The company’s market cap is $653.8 million.
ION Geophysical Corp. (NYSE:IO) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.05 by $0.01. On average, analysts predict that ION Geophysical Corp. will post $0.23 earnings per share for the current fiscal year.
ION Geophysical Corporation (NYSE:IO) is a technology-focused seismic solutions company, which provides acquisition equipment, software and planning and seismic processing services to the global energy industry.
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