Ion Geophysical Corp (NYSE:IO) shot up 6.5% on Friday . The company traded as high as $7.48 and last traded at $7.37, 188,694 shares changed hands during trading. An increase of 0% from the average session volume of 188,220 shares. The stock had previously closed at $6.92.
A number of brokerages have weighed in on IO. Zacks Investment Research raised shares of Ion Geophysical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 17th. ValuEngine raised shares of Ion Geophysical from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold”.
The stock’s 50 day simple moving average is $8.93 and its two-hundred day simple moving average is $10.93. The firm has a market cap of $104.51 million, a P/E ratio of -3.11 and a beta of 3.85. The company has a debt-to-equity ratio of 15.28, a current ratio of 0.88 and a quick ratio of 0.75.
In other Ion Geophysical news, Director James M. Lapeyre, Jr. bought 60,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was acquired at an average price of $6.79 per share, with a total value of $407,400.00. Following the completion of the purchase, the director now owns 265,273 shares of the company’s stock, valued at $1,801,203.67. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 16.10% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in shares of Ion Geophysical by 3.2% during the second quarter. Renaissance Technologies LLC now owns 728,749 shares of the oil and gas company’s stock valued at $5,866,000 after buying an additional 22,900 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ion Geophysical by 1.8% in the second quarter. Vanguard Group Inc. now owns 496,465 shares of the oil and gas company’s stock worth $3,996,000 after purchasing an additional 8,705 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ion Geophysical by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 437,336 shares of the oil and gas company’s stock worth $2,266,000 after purchasing an additional 7,969 shares during the last quarter. Deutsche Bank AG boosted its holdings in Ion Geophysical by 219.4% in the fourth quarter. Deutsche Bank AG now owns 233,097 shares of the oil and gas company’s stock worth $1,206,000 after purchasing an additional 160,116 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Ion Geophysical by 1,098.8% in the second quarter. Morgan Stanley now owns 183,855 shares of the oil and gas company’s stock worth $1,480,000 after purchasing an additional 168,518 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.
About Ion Geophysical (NYSE:IO)
ION Geophysical Corporation, together with its subsidiaries, provides a suite of services and products for seismic data acquisition and processing the United States and internationally. The company operates in three segments: E&P Technology & Services, Operations Optimization, and Ocean Bottom Integrated Technologies.
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