Quick Win by the Algorithm

ION Geophysical Corporation is a technology-focused company. It provides geophysical technology, services and solutions to the global oil and gas industry. Its offerings are designed to enable oil and gas exploration and production (E&P) companies to obtain images of the Earth’s subsurface. It offers services and products through three segments: E&P Technology & Services, E&P Operations Optimisation, and Ocean Bottom Services.

The historical performance of ION Geophysical Corporation (NYSE:IO) reflects a 67.67% increase over the past month. During the past quarter, the shares have increased by 151.98% and 287.83% over the course of a year.

The demand for ION products and services are directly correlated with the investments in oil & gas production activities. Oil prices have demonstrated stabilisation over recent quarters, allowing exploration and production companies to invest in growth opportunities. Ultimately, demand for ION products and services are also strengthening.

The dramatic increase reflects an improvement in trader sentiments, given the company’s strong performance over the past two quarters. Furthermore, the rally over the past month was fueled by insider trading. CEO R. Brian Hanson bought 36,351 shares of the company’s stock in a transaction dated Thursday, December 14. He purchased the stock at an average price of $13.05 per share, with a total value of $474,380.55. He now directly owns 154,325 shares of the company’s stock. Additionally, CFO Steven Bate purchased 18,176 shares of the company’s stock the same day, at an average share price of $13.05. Steven now directly owns 86,595 shares directly. Over the past three months, insiders purchased 70,589 shares of the company stock. Currently, 15.2% is of the shares are owned by insiders.

Insider trading activity may be seen as a valuable indicator of shifts in the market and sector sentiment. Given executives and directors have the most up-to-date information on their companies’ prospects, investors may aim to capitalise on the insider knowledge by tracking insider buying. Ultimately, prices will increase with an increased demand.

On December 12th, 2017, I Know First issued a bullish 1-month forecast for ION Geophysical Corporation (NYSE: IO). The forecast illustrated a signal of 11.10 and a predictability of 0.37. In accordance with the forecast, IO’s stock returned 61.01% over this period, highlighting another quick win by the I Know First algorithm.

Current I Know First subscribers received this bullish IO forecast on December 12th, 2017. 

How to read the I Know First Forecast

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.