Is Ion Geophysical a Winner in the Oil & Gas Equipment & Services Industry? By StockNews
The shares of ION Geophysical, a company which operates in a specific area of oil and gas equipment and related services, rose in value over the last month. Is it prudent to place a bet now on the stock when the company considers strategic options, including selling assets or strengthening its financial position. Read on.Technology-focused ION Geophysical Corporation (IO) provides geophysical technology, services, and solutions to the global oil and gas industry. The shares of the Houston, Tex.-based company have surged 31.4% in price over the past month to close yesterday’s trading session at $1.34.
The company also announced in June 2021 that it would be starting a larger, more extensive phase of the 11,000 km North Sea 3D multiclient program. The stock price fell by 34% and 56% respectively over the three-months, as well as 50.6% in the six months.
IO’s share prices have been declining for a while. IO’s share price has fallen by 91% in the last three years, and 76.5% the past five. Additionally, the company’s total assets and revenue have fallen at CAGRs between 24.2% & 11.2% in the past three year. IO announced that on September 15, it will be looking at selling assets, public or private equity transactions, and debt financing to improve its financial situation. The company’s future prospects for the near term look grim.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.