Separately, DNB Markets downgraded CGG from a buy rating to a hold rating in a report on Friday, October 25th.
Shares of CGGYY traded down $0.01 during mid-day trading on Wednesday, hitting $2.67. 5,456 shares of the company traded hands, compared to its average volume of 13,561. CGG has a 1 year low of $1.11 and a 1 year high of $2.76. The company has a quick ratio of 1.26, a current ratio of 1.45 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average price of $2.35 and a two-hundred day moving average price of $2.06.
CGG operates as a geoscience company in North America, the Central and South Americas, Europe, Africa, the Middle East, and the Asia Pacific. It operates through Geology, Geophysics & Reservoir; and Equipment segments. The Geology, Geophysics & Reservoir segment develops and licenses multi-client seismic surveys; processes seismic data; and sells seismic data processing and reservoir characterization software primarily under the geovation, Hampson-Russell, and Jason brands.
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