The trading price of ION Geophysical Corporation (NYSE:IO) closed higher on Friday, Feb 19, closing at $3.27, 1.22% higher than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $3.1900 and $3.4899. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 4.06. In examining the 52-week price action we see that the stock hit a 52-week high of $5.35 and a 52-week low of $1.13. Over the past month, the stock has gained 5.08% in value.

ION Geophysical Corporation, whose market valuation is $48.99 Million at the time of this writing, is expected to release its quarterly earnings report May 04, 2021- May 10, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.6 per share this quarter, however they have predicted annual earnings per share of -$2.38 for 2021 and -$1.91 for 2022. It means analysts are expecting annual earnings per share growth of -0.09% this year and -0.2% next year.

Analysts have forecast the company to bring in revenue of $24.71 Million for the quarter, with the likely lows of $21.3 Million and highs of $28.13 Million. The average estimate suggests sales will likely down by -56.2% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $114.23 Million. The company’s revenue is forecast to drop by -6.9% over what it did in 2020.

On the technical side, indicators suggest IO has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned IO a recommendation rating is 3. Out of them, 1 rate it a Hold, while 2 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged ION Geophysical Corporation (IO) as Underperform, while not any of them advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that IO’s price is currently 6.01% off the SMA20 and 16.4% off the SMA50. The RSI metric on the 14-day chart is currently showing 52.36, and weekly volatility stands at 31.62%. When measured over the past 30 days, the indicator reaches 14.96%. ION Geophysical Corporation (NYSE:IO)’s beta value is currently sitting at 4.06, while the Average True Range indicator is currently displaying 0.49. With analysts defining $9-$10 as the low and high price targets, we arrive at a consensus price target of $9.5 for the trailing 12-month period. The current price is about 171.9% off the estimated low and 202.11% off the forecast high, based on this estimate. Investors will be thrilled if IO’s share price rises to $9.5, which is the median consensus price. At that level, IO’s share price would be +187.01% above current price.

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To see how ION Geophysical Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: IO stock’s performance was +1.22% in the latest trading, and -23.02% in the past year, while USA Compression Partners LP (USAC) has traded -0.35% on the day and positioned -9.81% lower than it was a year ago. Another comparable company Dril-Quip (DRQ) saw its stock close -2.91% lower in the most recent trading session but was down -15.06% in a year. Furthermore, National Energy Services Reunited Corp (NESR) showed an increase of 1.22% on the day while its price kept declining at -23.02% over the past year. ION Geophysical Corporation has a P/E ratio of 0, compared to USA Compression Partners LP’s 0 and Dril-Quip’s 0. Also in last trading session, the S&P 500 Index has soared -0.19%, while the Dow Jones Industrial also saw a negative seesion, down 0% on the day.

An evaluation of the daily trading volume of ION Geophysical Corporation (NYSE:IO) indicates that the 3-month average is 871.09 Million. However, this figure has declined over the past 10 days to an average of 7.15 Million.

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Currently, records show that 14.98 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 26.88% of outstanding shares, whereas institutions hold 35.63%. The stats also highlight that short interest as of January 28, 2021, stood at 805.42 Million shares, resulting in a short ratio of 2.71 at that time. From this, we can conclude that short interest is 5.38% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 910.09 Million. However, since the stock’s price has seen +36.21% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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