Ion Geophysical Corp (NYSE:IO)
December 6th, 2018
Ion Geophysical Corp fell $1.30 Thursday which equals a 14.61% decline, closing at $7.60. As well as the drop in value, Ion Geophysical Corp hit a new 52 week low of $7.50, breaking the previous low of $8.25 from earlier this July. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be -4.24.
IO was outperformed by the rest of the Energy sector which went down just 1.77%.
The market sectors were mixed Thursday with a majority of the sectors trending down. Real Estate saw the biggest increase of the day (2.66%), while Energy saw the biggest drop (1.77%). Healthcare has seen the biggest year-to-date gain at 12%. The biggest loss this year has been the Materials sector falling 12%.
Communication Services saw the biggest turnaround from its 5-day performance of -1.28%, as it went up 1.04%. Utilities saw a turn around from its 5-day performance of 2.33% trading down 0.10%.
- Real Estate went up with a 2.66% change.
- Communication Services went up with a 1.04% change.
- Consumer Discretionary went up with a 0.61% change.
- Information Technology went up with a 0.23% change.
- Utilities went down with a -0.10% change.
- Consumer Staples went down with a -0.10% change.
- Healthcare went down with a -0.31% change.
- Industrials went down with a -0.55% change.
- Materials went down with a -1.36% change.
- Financials went down with a -1.44% change.
- Energy went down with a -1.77% change.
Ion Geophysical Corp Info
ION Geophysical Corporation provides geoscience products, services, and solutions to the oil and gas industry worldwide. It operates through three segments: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services. The E&P Technology & Services segment offers complete seismic data services, including survey design and planning, data acquisition, project management, advanced processing, and imaging services, as well as reservoir characterization and interpretation services. The E&P Operations Optimization segment provides command and control software systems, as well as related software and services for towed marine streamer and ocean bottom seismic operations, and for survey design. This segment also manufactures and repairs marine towed streamer acquisition and positioning systems, and analog geophone sensors. The Ocean Bottom Services segment offers survey design, planning, and optimization services to maximize seismic image quality, operational efficiency, and safety; data acquisition; and data processing, interpretation, and reservoir services. This segment also manufactures re-deployable ocean bottom cable seismic data acquisition systems. ION Geophysical Corporation markets and sells its services and products through direct sales force and third-party sales representatives. The company was formerly known as Input/Output, Inc. and changed its name to ION Geophysical Corporation in 2007. ION Geophysical Corporation was founded in 1968 and is headquartered in Houston, Texas.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Ion Geophysical Corp’s score is -4.24) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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