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Oppenheimer analyst Colin Rusch assigned a Buy rating to Ion Geophysical Corp (NYSE: IO) today. The company’s shares opened today at $28.25, close to its 52-week high of $32.45.
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 16.1% and a 53.4% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.
Ion Geophysical Corp has an analyst consensus of Moderate Buy, with a price target consensus of $35.
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Based on Ion Geophysical Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.43 million. In comparison, last year the company had a GAAP net loss of $23.34 million.
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ION Geophysical Corp. is a technology focused company, which engages in the provision of geoscience technology, services, and solutions to the oil and gas industry. It operates through the following business segments: E&P Technology and Services, E&P Operations Optimization, and Ocean Bottom Seismic Services.
