IonQ (NYSE:IONQ) Director Sells $1,028,000.00 in Stock

IonQ, Inc. (NYSE:IONQ) Director Kathryn Chou sold 20,000 shares of IonQ stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the sale, the director owned 60,839 shares of the company’s stock, valued at approximately $3,127,124.60. The trade was a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

IonQ Price Performance

IONQ opened at $50.31 on Monday. IonQ, Inc. has a 1-year low of $17.88 and a 1-year high of $84.64. The stock has a market cap of $17.48 billion, a P/E ratio of -9.40 and a beta of 2.62. The stock’s 50 day simple moving average is $57.13 and its 200 day simple moving average is $49.82.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The firm had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The business’s revenue for the quarter was up 221.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.24) earnings per share. Research analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IONQ shares. Zacks Research upgraded shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. B. Riley lifted their target price on shares of IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Benchmark upped their price target on shares of IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of IonQ in a research note on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, IonQ presently has an average rating of “Hold” and an average target price of $68.18.

Institutional Investors Weigh In On IonQ

Hedge funds have recently modified their holdings of the company. Amazon Com Inc. acquired a new stake in shares of IonQ in the second quarter valued at about $36,705,000. Y Intercept Hong Kong Ltd purchased a new position in IonQ in the 2nd quarter worth approximately $6,104,000. Norges Bank purchased a new position in IonQ in the 2nd quarter worth approximately $114,767,000. Union Bancaire Privee UBP SA grew its position in IonQ by 8,150.0% in the second quarter. Union Bancaire Privee UBP SA now owns 82,500 shares of the company’s stock valued at $3,545,000 after acquiring an additional 81,500 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its position in IonQ by 21.5% in the second quarter. Cookson Peirce & Co. Inc. now owns 102,466 shares of the company’s stock valued at $4,403,000 after acquiring an additional 18,124 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service.