Traders Buy Large Volume of Ion Geophysical Call Options (IO)

Ion Geophysical Corp (NYSE:IO) saw unusually large options trading activity on Wednesday. Stock investors acquired 839 call options on the stock. This is an increase of approximately 887% compared to the average volume of 85 call options.

Shares of Ion Geophysical (NYSE IO) opened at $31.55 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 3.79. Ion Geophysical has a 1 year low of $3.20 and a 1 year high of $32.45.

Ion Geophysical (NYSE:IO) last issued its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.43. The business had revenue of $57.90 million for the quarter. Ion Geophysical had a negative net margin of 15.31% and a negative return on equity of 65.84%.

In other Ion Geophysical news, COO Christopher Theron Usher acquired 14,850 shares of Ion Geophysical stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average price of $13.50 per share, with a total value of $200,475.00. Following the completion of the purchase, the chief operating officer now directly owns 137,367 shares in the company, valued at approximately $1,854,454.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Bate acquired 18,176 shares of Ion Geophysical stock in a transaction that occurred on Thursday, December 14th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $237,196.80. Following the purchase, the chief financial officer now owns 86,595 shares of the company’s stock, valued at $1,130,064.75. The disclosure for this purchase can be found here. In the last three months, insiders purchased 70,589 shares of company stock worth $927,869. 15.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC bought a new stake in Ion Geophysical during the fourth quarter valued at $808,000. Two Sigma Investments LP bought a new stake in Ion Geophysical during the fourth quarter valued at $1,144,000. Deutsche Bank AG boosted its position in Ion Geophysical by 1,916,800.0% during the fourth quarter. Deutsche Bank AG now owns 57,507 shares of the oil and gas company’s stock valued at $1,135,000 after acquiring an additional 57,504 shares during the last quarter. Renaissance Technologies LLC boosted its position in Ion Geophysical by 103.1% during the fourth quarter. Renaissance Technologies LLC now owns 585,156 shares of the oil and gas company’s stock valued at $11,557,000 after acquiring an additional 296,974 shares during the last quarter. Finally, AXA bought a new stake in Ion Geophysical during the fourth quarter valued at $436,000. 34.79% of the stock is currently owned by institutional investors and hedge funds.

IO has been the topic of a number of research analyst reports. Evercore ISI raised shares of Ion Geophysical from an “in-line” rating to an “outperform” rating in a research report on Friday, February 9th. ValuEngine cut shares of Ion Geophysical from a “hold” rating to a “sell” rating in a research report on Friday, December 1st.

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About Ion Geophysical

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.

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