Ion Geophysical Corp. (NYSE:IO)’s share price traded down 2.5% on Wednesday . The stock traded as low as $5.53 and last traded at $5.56, with a volume of 53,655 shares traded. The stock had previously closed at $5.70.

The firm’s market cap is $67.53 million. The firm has a 50-day moving average of $5.71 and a 200-day moving average of $6.79.

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, topping analysts’ consensus estimates of ($1.86) by $0.01. Ion Geophysical Corp. had a negative return on equity of 85.96% and a negative net margin of 42.51%. The company earned $36.15 million during the quarter, compared to analysts’ expectations of $38.90 million. During the same quarter in the previous year, the firm earned ($4.05) earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Analysts predict that Ion Geophysical Corp. will post ($7.24) EPS for the current fiscal year.

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In other Ion Geophysical Corp. news, Director James M. Lapeyre, Jr. acquired 8,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were acquired at an average cost of $5.98 per share, for a total transaction of $47,840.00. Following the completion of the purchase, the director now owns 157,773 shares of the company’s stock, valued at approximately $943,482.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James M. Lapeyre, Jr. acquired 46,000 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was acquired at an average price of $5.77 per share, for a total transaction of $265,420.00. Following the completion of the purchase, the director now directly owns 627,309 shares of the company’s stock, valued at approximately $3,619,572.93. The disclosure for this purchase can be found here. 10.00% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. TFS Capital LLC purchased a new position in shares of Ion Geophysical Corp. during the second quarter valued at about $165,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Ion Geophysical Corp. during the second quarter valued at about $189,000. Paloma Partners Management Co purchased a new position in shares of Ion Geophysical Corp. during the second quarter valued at about $232,000. Brookfield Asset Management Inc. purchased a new position in shares of Ion Geophysical Corp. during the second quarter valued at about $235,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of Ion Geophysical Corp. during the second quarter valued at about $296,000. Institutional investors and hedge funds 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.

5 Day Chart for NYSE:IO

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