CGG Veritas Stock Falls On Unusually High Volume (CGV)

NEW YORK ( TheStreet) -- CGG Veritas (NYSE: CGV) is trading at unusually high volume Wednesday with 438,822 shares changing hands. It is currently at four times its average daily volume and trading down $1.48 (-6.1%) at $22.63 as of 3:41 p.m. ET.

CGG Veritas has a market cap of $3.3 billion and is part of the basic materials sector and energy industry. Shares are down 21.2% year to date as of the close of trading on Tuesday.

Compagnie Generale de Geophysique-Veritas S.A., together with its subsidiaries, provides geophysical services and equipment to the oil and gas exploration and production industries in France and internationally. The company has a P/E ratio of 217, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates CGG Veritas as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and poor profit margins. You can view the full CGG Veritas Ratings Report.

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