ION Geophysical (NYSE:IO) Stock Passes Above 200 Day Moving Average of $0.00

ION Geophysical Co. (NYSE:IO)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $2.29. ION Geophysical shares last traded at $2.22, with a volume of 357,698 shares traded.

Several brokerages have recently weighed in on IO. Zacks Investment Research raised ION Geophysical from a “sell” rating to a “hold” rating in a report on Tuesday, April 20th. HC Wainwright boosted their price target on ION Geophysical from $4.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, February 16th. Finally, Alliance Global Partners assumed coverage on ION Geophysical in a research note on Wednesday, June 2nd. They issued a “buy” rating and a $4.20 price target on the stock.

The stock’s 50 day simple moving average is $2.14. The company has a market capitalization of $62.81 million, a price-to-earnings ratio of -0.75 and a beta of 3.27.

ION Geophysical (NYSE:IO) last posted its quarterly earnings data on Tuesday, May 4th. The oil and gas company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.34). The business had revenue of $14.04 million during the quarter, compared to the consensus estimate of $14.00 million. Equities research analysts expect that ION Geophysical Co. will post -3 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in ION Geophysical by 32.2% in the 4th quarter. Wells Fargo & Company MN now owns 30,482 shares of the oil and gas company’s stock valued at $74,000 after acquiring an additional 7,419 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in ION Geophysical in the 1st quarter valued at about $27,000. BlackRock Inc. increased its position in ION Geophysical by 8.1% in the 4th quarter. BlackRock Inc. now owns 207,861 shares of the oil and gas company’s stock valued at $505,000 after acquiring an additional 15,515 shares in the last quarter. Virtu Financial LLC acquired a new stake in ION Geophysical in the 1st quarter valued at about $38,000. Finally, GSA Capital Partners LLP increased its position in ION Geophysical by 146.3% in the 4th quarter. GSA Capital Partners LLP now owns 54,182 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 32,188 shares in the last quarter. Hedge funds and other institutional investors own 11.59% of the company’s stock.

ION Geophysical Company Profile (NYSE:IO)

ION Geophysical Corporation provides data-driven decision-making to offshore energy, and ports, and defense industries worldwide. The company operates through two segments, E&P Technology & Services and Operations Optimization. The E&P Technology & Services segment creates digital data assets and delivers services to help E&P companies improve decision-making and reduce risk.

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