Ion Geophysical Corporation (NYSE:IO) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report released on Thursday.

Ion Geophysical Corporation (NYSE:IO) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.78. Ion Geophysical Corporation had a negative return on equity of 91.64% and a negative net margin of 20.03%. During the same period last year, the business earned ($3.30) EPS.

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

A hedge fund recently raised its stake in Ion Geophysical Corporation stock. California Public Employees Retirement System raised its holdings in Ion Geophysical Corporation (NYSE:IO) by 203.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,966 shares of the oil and gas company’s stock after buying 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 owned by institutional investors and hedge funds.

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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