ValuEngine upgraded shares of Ion Geophysical Corporation (NYSE:IO) from a sell rating to a hold rating in a research report released on Tuesday.

Shares of Ion Geophysical Corporation (IO) opened at 7.65 on Tuesday. The stock has a 50 day moving average price of $4.91 and a 200 day moving average price of $4.57. The firm’s market capitalization is $90.90 million. Ion Geophysical Corporation has a 12-month low of $3.20 and a 12-month high of $8.40.

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In related news, EVP Jamey S. Seely sold 12,500 shares of the 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 completion of the transaction, the executive vice president now directly owns 103,935 shares of the company’s stock, valued at approximately $521,753.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. California Public Employees Retirement System raised its position in shares of Ion Geophysical Corporation by 203.9% in the first quarter. California Public Employees Retirement System now owns 43,966 shares of the oil and gas company’s stock worth $213,000 after buying an additional 29,500 shares during the period. Neuberger Berman Group LLC raised its position in shares of Ion Geophysical Corporation by 4.0% in the first quarter. Neuberger Berman Group LLC now owns 186,140 shares of the oil and gas company’s stock worth $903,000 after buying an additional 7,090 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ion Geophysical Corporation by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 95,783 shares of the oil and gas company’s stock worth $464,000 after buying an additional 481 shares during the period. Algert Global LLC raised its position in shares of Ion Geophysical Corporation by 90.3% in the first quarter. Algert Global LLC now owns 42,959 shares of the oil and gas company’s stock worth $208,000 after buying an additional 20,380 shares during the period. Finally, Norges Bank acquired a new position in shares of Ion Geophysical Corporation during the fourth quarter worth about $508,000. 33.47% 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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