Insider Buying: Ion Geophysical Corp (IO) CFO Acquires $237,196.80 in Stock
Ion Geophysical Corp (NYSE:IO) CFO Steven Bate bought 18,176 shares of the stock in a transaction 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 in the company, valued at approximately $1,130,064.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Ion Geophysical Corp (NYSE IO) opened at $19.35 on Thursday. Ion Geophysical Corp has a fifty-two week low of $3.20 and a fifty-two week high of $20.35. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 3.88.
Ion Geophysical (NYSE:IO) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.78. Ion Geophysical had a negative return on equity of 102.40% and a negative net margin of 20.19%. The business had revenue of $61.10 million for the quarter. During the same quarter last year, the business earned ($3.30) EPS.
Separately, ValuEngine upgraded Ion Geophysical from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th.
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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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