Ion Geophysical Sees Unusually High Options Volume (IO)

Ion Geophysical Corp (NYSE:IO) saw some unusual options trading on Wednesday. Stock traders acquired 839 call options on the stock. This represents an increase of approximately 887% compared to the typical daily volume of 85 call options.

In related news, CFO Steven Bate purchased 18,176 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were bought at an average price of $13.05 per share, for a total transaction of $237,196.80. Following the acquisition, the chief financial officer now owns 86,595 shares of the company’s stock, valued at approximately $1,130,064.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Brian Hanson purchased 36,351 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were bought at an average price of $13.05 per share, for a total transaction of $474,380.55. Following the acquisition, the chief executive officer now directly owns 154,325 shares in the company, valued at approximately $2,013,941.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 70,589 shares of company stock worth $927,869 in the last 90 days. 15.20% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Monashee Investment Management LLC bought a new position in Ion Geophysical in the 4th quarter valued at $200,000. Raymond James Financial Services Advisors Inc. bought a new position in Ion Geophysical in the 4th quarter valued at $316,000. AXA bought a new position in Ion Geophysical in the 4th quarter valued at $436,000. Alambic Investment Management L.P. bought a new position in Ion Geophysical in the 4th quarter valued at $622,000. Finally, Millennium Management LLC bought a new position in Ion Geophysical in the 4th quarter valued at $808,000. 34.79% of the stock is currently owned by institutional investors.

Ion Geophysical (IO) opened at $31.55 on Thursday. The company has a market capitalization of $370.89, a price-to-earnings ratio of -12.28 and a beta of 3.62. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.94 and a quick ratio of 0.83. Ion Geophysical has a 12-month low of $3.20 and a 12-month high of $32.45.

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

IO has been the topic of several recent research reports. ValuEngine upgraded Ion Geophysical from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Evercore ISI raised Ion Geophysical from an “in-line” rating to an “outperform” rating in a research report on Friday, February 9th.

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Ion Geophysical 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.

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