Let’s start up with the current stock price of ION Geophysical Corporation (IO), which is $2.47 to be very precise. The Stock rose vividly during the last session to $2.175 after opening rate of $2.10 while the lowest price it went was recorded $2.10 before closing at $2.12.
Recently in News on April 5, 2021, ION announces preliminary first quarter 2021 results, an extension to participate in its Rights Offering and Exchange Offer to April 12th, and waiver of 95% Minimum Tender Condition. ION Geophysical Corporation (NYSE: IO) (the “Company” or “ION”) today announced that the Company expects to report first quarter 2021 revenues of approximately $14 million. The Company’s cash balance at March 31, 2021 is expected to be approximately $34 million, including net revolver borrowings of $21 million. Total liquidity, consisting of cash on hand and remaining available borrowing base capacity under the revolving credit facility, is expected to be approximately $39 million at quarter end. Despite continued near-term market challenges, backlog increased for the third consecutive quarter to approximately $21 million, primarily due to the Company’s strategic entry into the 3D new acquisition multi-client market. ION expects to recognize the majority of this backlog during the second and third quarters as its Mid North Sea High program progresses this summer. You can read further details here
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ION Geophysical Corporation had a pretty favorable run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $5.35 on 02/12/21, with the lowest value was $1.95 for the same time period, recorded on 03/30/21.
ION Geophysical Corporation (IO) full year performance was 15.85%
Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, ION Geophysical Corporation shares are logging -53.74% during the 52-week period from high price, and 106.25% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $1.20 and $5.35.
The company’s shares, operating in the sector of Energy managed to top a trading volume set approximately around 19612425 for the day, which was evidently higher, when compared to the average daily volumes of the shares.
When it comes to the year-to-date metrics, the ION Geophysical Corporation (IO) recorded performance in the market was -12.76%, having the revenues showcasing -11.67% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 35.40M, as it employees total of 428 workers.
Analysts verdict on ION Geophysical Corporation (IO)
During the last month, 0 analysts gave the ION Geophysical Corporation a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.
According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 2.63, with a change in the price was noted +1.00. In a similar fashion, ION Geophysical Corporation posted a movement of +66.67% for the period of last 100 days, recording 1,009,095 in trading volumes.
ION Geophysical Corporation (IO): Technical Analysis
Raw Stochastic average of ION Geophysical Corporation in the period of last 50 days is set at 16.18%. The result represents downgrade in oppose to Raw Stochastic average for the period of the last 20 days, recording 41.35%. In the last 20 days, the company’s Stochastic %K was 21.55% and its Stochastic %D was recorded 19.72%.
Let’s take a glance in the erstwhile performances of ION Geophysical Corporation, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -12.76%. Additionally, trading for the stock in the period of the last six months notably improved by 44.22%, alongside a boost of 15.85% for the period of the last 12 months. The shares increased approximately by 6.00% in the 7-day charts and went up by -21.77% in the period of the last 30 days. Common stock shares were lifted by -11.67% during last recorded quarter.