ION Geophysical Corporation (NYSE: IO) is 36.21% higher on its value in year-to-date trading and has touched a low of $1.13 and a high of $5.35 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The IO stock was last observed hovering at around $3.27 in the last trading session, with the day’s gains setting it 0.04% off its average median price target of $9.50 for the next 12 months. It is also 66.9% off the consensus price target high of $10.00 offered by 3 analysts, but current levels are 63.22% higher than the price target low of $9.00 for the same period.
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Currently trading at $3.31, the stock is 6.01% and 16.40% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.15 million and changing 1.22% at the moment leaves the stock 44.69% off its SMA200. IO registered -23.02% loss for a year compared to 6-month gain of 55.40%. The firm has a 50-day simple moving average (SMA 50) of $3.0776 and a 200-day simple moving average (SMA200) of $2.1755.
The stock witnessed a 5.08% loss in the last 1 month and extending the period to 3 months gives it a 98.20%, and is 7.12% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 31.62% over the week and 14.96% over the month.
ION Geophysical Corporation (IO) has around 519 employees, a market worth around $48.99M and $122.70M in sales. Profit margin for the company is -30.30%. Distance from 52-week low is 192.92% and -38.13% from its 52-week high. The company has generated returns on investments over the last 12 months (-42.50%).
ION Geophysical Corporation (IO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for ION Geophysical Corporation (IO) is a “Overweight”. 3 analysts offering their recommendations for the stock have an average rating of 2.30, where 1 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
ION Geophysical Corporation is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at -$0.6 with sales reaching $24.71M over the same period.The EPS is expected to grow by 23.50% this year, but quarterly earnings will post -6.90% year-over-year. Quarterly sales are estimated to shrink -56.20% in year-over-year returns.
ION Geophysical Corporation (IO) Top Institutional Holders
53 institutions hold shares in ION Geophysical Corporation (IO), with 4.03M shares held by insiders accounting for 26.88% while institutional investors hold 48.73% of the company’s shares. The shares outstanding are 14.32M, and float is at 10.96M with Short Float at 7.35%. Institutions hold 35.63% of the Float.
The top institutional shareholder in the company is Renaissance Technologies, LLC with over 1.0 million shares valued at $2.44 million. The investor’s holdings represent 6.70% of the IO Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 0.45 million shares valued at $0.68 million to account for 3.03% of the shares outstanding. The other top investors are Deutsche Bank Aktiengesellschaft which holds 0.3 million shares representing 2.00% and valued at over $0.45 million, while Neuberger Berman Group, LLC holds 1.90% of the shares totaling 0.28 million with a market value of $0.69 million.
ION Geophysical Corporation (IO) Insider Activity
A total of 4 insider transactions have happened at ION Geophysical Corporation (IO) in the last six months, with sales accounting for 4 and purchases happening 0 times. The most recent transaction is an insider purchase by LAPEYRE JAMES M JR, the company’s Director. SEC filings show that LAPEYRE JAMES M JR bought 100,000 shares of the company’s common stock on Mar 11 at a price of $1.75 per share for a total of $0.17 million. Following the purchase, the insider now owns 0.42 million shares.
ION Geophysical Corporation (IO): Who are the competitors?
The company’s main competitors (and peers) include Dawson Geophysical Company (DWSN) that is trading 42.99% up over the past 12 months. Short interest in the company’s stock has fallen -13.0% from the last report on Dec 30, 2020 to stand at a total of 0.91 million short shares sold with a short interest ratio of 2.71.