ION Geophysical (NYSE:IO) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of ION Geophysical (NYSE:IOGet Rating) in a report issued on Wednesday. The firm set a “hold” rating on the oil and gas company’s stock.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut ION Geophysical from a “buy” rating to a “hold” rating in a research note on Wednesday, January 12th. Alliance Global Partners lowered ION Geophysical from a “buy” rating to a “sell” rating in a research report on Tuesday, April 26th.

Shares of NYSE IO opened at $0.37 on Wednesday. ION Geophysical has a fifty-two week low of $0.35 and a fifty-two week high of $2.67. The business has a 50 day moving average price of $0.74 and a two-hundred day moving average price of $1.03. The firm has a market cap of $10.96 million, a PE ratio of -0.16 and a beta of 3.38.

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. bought a new stake in ION Geophysical in the fourth quarter valued at $69,000. Virtu Financial LLC lifted its stake in ION Geophysical by 63.8% in the fourth quarter. Virtu Financial LLC now owns 72,158 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 28,117 shares during the last quarter. State Street Corp lifted its stake in ION Geophysical by 79.9% in the fourth quarter. State Street Corp now owns 59,010 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 26,200 shares during the last quarter. Geode Capital Management LLC lifted its stake in ION Geophysical by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 193,457 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 21,506 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in ION Geophysical by 708.7% in the third quarter. Citadel Advisors LLC now owns 68,255 shares of the oil and gas company’s stock valued at $91,000 after buying an additional 59,815 shares during the last quarter. 16.49% of the stock is currently owned by institutional investors.

ION Geophysical Company Profile (Get Rating)

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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