Shares of Ion Geophysical Corp (NYSE:IO) have been assigned a consensus rating of “Hold” from the six research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $35.00.

IO has been the topic of several analyst reports. Zacks Investment Research downgraded Ion Geophysical from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded Ion Geophysical from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.

Several hedge funds have recently made changes to their positions in IO. Bank of New York Mellon Corp grew its stake in shares of Ion Geophysical by 38.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 56,652 shares of the oil and gas company’s stock valued at $880,000 after purchasing an additional 15,700 shares during the last quarter. Man Group plc purchased a new position in shares of Ion Geophysical in the 3rd quarter valued at approximately $301,000. Vanguard Group Inc. grew its stake in shares of Ion Geophysical by 8.0% in the 3rd quarter. Vanguard Group Inc. now owns 526,320 shares of the oil and gas company’s stock valued at $8,184,000 after purchasing an additional 38,778 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Ion Geophysical by 8.0% in the 3rd quarter. Vanguard Group Inc now owns 526,320 shares of the oil and gas company’s stock valued at $8,184,000 after purchasing an additional 38,778 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan grew its stake in shares of Ion Geophysical by 23.1% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 48,000 shares of the oil and gas company’s stock valued at $249,000 after purchasing an additional 9,000 shares during the last quarter. Institutional investors own 46.65% of the company’s stock.

IO opened at $7.62 on Monday. The company has a market cap of $117.48 million, a price-to-earnings ratio of -3.22 and a beta of 3.64. Ion Geophysical has a 52 week low of $4.53 and a 52 week high of $26.85. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 15.28.

Ion Geophysical (NYSE:IO) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.75). The firm had revenue of $36.96 million for the quarter, compared to analyst estimates of $34.20 million. Ion Geophysical had a negative return on equity of 256.52% and a negative net margin of 40.39%. Equities analysts predict that Ion Geophysical will post -1.74 earnings per share for the current fiscal year.

About Ion Geophysical

ION Geophysical Corporation, together with its subsidiaries, provides a suite of services and products for seismic data acquisition and processing the United States and internationally. The company operates in three segments: E&P Technology & Services, Operations Optimization, and Ocean Bottom Integrated Technologies.

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