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IO - ION Geophysical Offers Value After The Price Drop
Ion Geophysical Corporation
Weaknesses Persist, But Some Engines Restart for IO
ION Geophysical (IO) provides geoscience products, services, and solutions that allow upstream energy companies to obtain earth’s subsurface images. I do not think IO’s stock price will yield strong positive returns in the short-run because of several industry headwinds. Only when the offshore capital investment increases and the crude oil price stabilizes will steady gains from the stock become likely.
The company’s 3D re-imaging program in Picanha in offshore Brazil and a new 2-D project are likely to boost its growth. The company’s software-based products