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What Makes ION Geophysical Corporation (NYSE: IO) One Of The Best Momentum Picks?

ION Geophysical Corporation (NYSE:IO) shares, rose in value on Thursday, 05/12/22, with the stock price down by -4.03% to the previous day’s close as strong demand from buyers drove the stock to $0.33.

Actively observing the price movement in the last trading, the stock closed the session at $0.35, falling within a range of $0.30 and $0.3865. The value of beta (5-year monthly) was 3.29. Referring to stock’s 52-week performance, its high was $2.67, and the low was $0.34. On the whole, IO has fluctuated by -52.32% over the past month.

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With the market capitalization of ION Geophysical Corporation currently standing at about $9.74 million, investors are eagerly awaiting this quarter’s results, scheduled for Feb 08, 2022 – Feb 14, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.14, which is expected to increase to -$0.12 for fiscal year -$0.86 and then to about -$0.38 by fiscal year 2022. Data indicates that the EPS growth is expected to be 67.00% in 2022, while the next year’s EPS growth is forecast to be 55.80%.

Analysts have estimated the company’s revenue for the quarter at $33.73 million, with a low estimate of $29.2 million and a high estimate of $38.5 million. According to the average forecast, sales growth in current quarter could jump up 23.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $111.82 million, representing a decrease of -8.80% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IO’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IO currently trading nearly -27.52% and -54.60% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.83, while the 7-day volatility ratio is showing 13.10% which for the 30-day chart, stands at 21.88%. Furthermore, ION Geophysical Corporation (IO)’s beta value is 3.38, and its average true range (ATR) is 0.09.

A comparison of ION Geophysical Corporation (IO) with its peers suggests the former has fared considerably weaker in the market. IO showed an intraday change of -4.03% in last session, and over the past year, it shrunk by -81.38%%. In comparison, Dawson Geophysical Company (DWSN) has moved lower at -4.63% on the day and was down -29.17% over the past 12 months. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.13%. Meanwhile, the Dow Jones Industrial Slipped by -0.33%.

Data on historical trading for ION Geophysical Corporation (NYSE:IO) indicates that the trading volumes over the past 3 months, they’ve averaged 5.79 million. According to company’s latest data on outstanding shares, there are 28.59 million shares outstanding.

Nearly 5.30% of ION Geophysical Corporation’s shares belong to company insiders and institutional investors own 20.00% of the company’s shares. The stock has fallen by -62.13% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IO stock heading into the next quarter.

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