5 Best Nano Cap Stocks To Buy in 2021

2. ION Geophysical Corporation (NYSE: IO)

Number of Hedge Fund Holders: 4

ION Geophysical Corporation (NYSE: IO) is a Texas-based company that offers a variety of services to the oil and gas industry. The firm provides expertise related to equipment acquisition, software-related matters, data libraries, and planning services. The technology that the firm markets can provide high-resolution images of the surface beneath the earth to exploration companies. ION Geophysical has an international presence with offices in the United States, Canada, Latin America, Europe, Africa, Russia, China and the Middle East.

It has a market cap of more than $43 million and an annual revenue of over $122 million. Last year, the revenue of the firm recorded a 30% decrease compared to the previous twelve months because of the COVID-19 pandemic. The 52-week share price range of the firm hovers between $5.3-$1.2. Earlier this year, the share price of ION jumped by 17% after the company announced the deployment of Gemini, a new source technology for oil firms. Last month, the price jumped by 22% after a big Middle East oil giant extended a contract for Gemini.