Investors Purchase Large Volume of Call Options on Ion Geophysical (IO)

Ion Geophysical Corp (NYSE:IO) was the recipient of unusually large options trading on Thursday. Traders bought 1,224 call options on the company. This represents an increase of approximately 1,230% compared to the typical volume of 92 call options.

IO opened at $27.80 on Friday. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market capitalization of $381.39, a price-to-earnings ratio of -17.27 and a beta of 2.82. Ion Geophysical has a 12 month low of $3.20 and a 12 month high of $32.45.

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Ion Geophysical (NYSE:IO) last posted its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.38 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.43. The company had revenue of $57.90 million during the quarter. Ion Geophysical had a negative return on equity of 65.84% and a negative net margin of 15.31%. sell-side analysts forecast that Ion Geophysical will post 0.11 EPS for the current fiscal year.

Several analysts have commented on IO shares. ValuEngine upgraded Ion Geophysical from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. CIBC started coverage on Ion Geophysical in a report on Thursday, March 29th. They issued an “outperform” rating for the company. Oppenheimer started coverage on Ion Geophysical in a report on Thursday, March 29th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Evercore ISI upgraded Ion Geophysical from an “in-line” rating to an “outperform” rating in a report on Friday, February 9th.

A number of institutional investors and hedge funds have recently bought and sold shares of IO. Renaissance Technologies LLC grew its holdings in Ion Geophysical by 103.1% in the 4th quarter. Renaissance Technologies LLC now owns 585,156 shares of the oil and gas company’s stock valued at $11,557,000 after buying an additional 296,974 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Ion Geophysical during the 4th quarter worth about $1,144,000. Deutsche Bank AG grew its holdings in shares of Ion Geophysical by 1,916,800.0% during the 4th quarter. Deutsche Bank AG now owns 57,507 shares of the oil and gas company’s stock worth $1,135,000 after purchasing an additional 57,504 shares during the period. EAM Investors LLC purchased a new stake in shares of Ion Geophysical during the 4th quarter worth about $853,000. Finally, Millennium Management LLC purchased a new stake in shares of Ion Geophysical during the 4th quarter worth about $808,000. Institutional investors own 31.50% of the company’s stock.

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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.