ValuEngine upgraded shares of Ion Geophysical Corporation (NYSE:IO) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Shares of Ion Geophysical Corporation (IO) opened at 7.35 on Tuesday. Ion Geophysical Corporation has a 52 week low of $3.20 and a 52 week high of $8.40. The firm’s market capitalization is $87.34 million. The company has a 50-day moving average of $4.80 and a 200 day moving average of $4.55.

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In other Ion Geophysical Corporation news, EVP Jamey S. Seely sold 12,500 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $5.02, for a total value of $62,750.00. Following the transaction, the executive vice president now directly owns 103,935 shares in the company, valued at $521,753.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Ion Geophysical Corporation by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 267,254 shares of the oil and gas company’s stock worth $1,604,000 after buying an additional 1,508 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Ion Geophysical Corporation by 4.0% in the first quarter. Neuberger Berman Group LLC now owns 186,140 shares of the oil and gas company’s stock worth $903,000 after buying an additional 7,090 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ion Geophysical Corporation by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 95,783 shares of the oil and gas company’s stock worth $464,000 after buying an additional 481 shares during the last quarter. Norges Bank bought a new position in Ion Geophysical Corporation during the fourth quarter worth $508,000. Finally, California Public Employees Retirement System boosted its position in Ion Geophysical Corporation by 203.9% in the first quarter. California Public Employees Retirement System now owns 43,966 shares of the oil and gas company’s stock worth $213,000 after buying an additional 29,500 shares during the last quarter. Hedge funds and other institutional investors own 33.47% of the company’s stock.

About Ion Geophysical Corporation

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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