In the last trading session, 1,271,125 shares of the ION Geophysical Corporation(NYSE:IO) were traded, and its beta was 4.06. Most recently the company’s share price was $3.38, and it changed around $0.07 or 0.02% from the last close, which brings the market valuation of the company to $50.63 Million. IO currently trades at a discount to its 52-week high of $5.35, offering almost -58.28% off that amount. The share price’s 52-week low was $1.13, which indicates that the current value has risen by an impressive 66.57% since then. We note from ION Geophysical Corporation’s average daily trading volume that its 10-day average is 3.12 Million shares, with the 3-month average coming to 871.09 Million.
ION Geophysical Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 2.3. If we narrow it down even further, the data shows that none out of 3 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended IO as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. ION Geophysical Corporation is expected to report earnings per share of -$0.6 for the current quarter.
ION Geophysical Corporation (NYSE:IO): Trading Information
Instantly IO has showed a green trend with a performance of 2.11% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $4.78- on Tuesday, Feb 16 increased the stock’s daily price by 29.29%. The company’s shares are currently up 0.39% year-to-date, but still down -0.237 over the last five days. On the other hand, ION Geophysical Corporation (NYSE:IO) is 0.21% up in the 30-day period. We can see from the shorts that 805.42 Million shares have been sold at a short interest cover period of 0.92 day(s).
The consensus price target as assigned by Wall Street analysts is $9.5, which translates to bears needing to increase their stock price by 181.07% from its current value. Analyst projections state that IO is forecast to be at a low of $9 and a high of $10. In order for the stock price to hit the forecast high, the stock would need to surge +195.86% from its current level, while the stock would need to crash 166.27% from its current level to reach the projected low.
ION Geophysical Corporation (IO) projections and forecasts
ION Geophysical Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +60.19 percent over the past six months and at a 12.8% annual growth rate that is well above the industry average of 0.9%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -275% in revenue this quarter, and will report a decline of -56.8% in the next quarter. The year-over-year growth rate is expected to be -6.9%, down from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $24.71 Million in revenue for the current quarter. 2 analysts expect ION Geophysical Corporation to make $27.63 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $56.41 Million and $22.73 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -56.2%. Forecasts for the next quarter put sales growth at 21.6%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -2.6%. ION Geophysical Corporation earnings are expected to increase by 23.5% in 2021, but the outlook is positive 18% per year for the next five years.
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ION Geophysical Corporation (NYSE:IO)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 26.88% of ION Geophysical Corporation shares, and 35.63% of them are in the hands of institutional investors. The stock currently has a share float of 48.73%. ION Geophysical Corporation stock is held by 53 institutions, with Renaissance Technologies, LLC being the largest institutional investor. By Dec 30, 2020, it held 6.7% of the shares, which is about 1Million shares worth $2.44 Million.
Vanguard Group, Inc. (The), with 3.03% or 454.24 Thousand shares worth $1.1 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Deutsche DWS Investment Tr-DWS Small Cap Core Fd and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2020. The former held 300000 shares worth $450Thousand, making up 2% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 295.67 Thousand shares worth around $443.51 Thousand, which represents about 1.97% of the total shares outstanding.