IonQ (NYSE:IONQ) Director Kathryn Chou Sells 20,000 Shares

by · The Markets Daily

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

IonQ Price Performance

Shares of NYSE IONQ traded down $2.24 during trading hours on Friday, reaching $50.31. The stock had a trading volume of 14,201,111 shares, compared to its average volume of 19,711,124. The company has a market cap of $17.48 billion, a price-to-earnings ratio of -9.40 and a beta of 2.62. IonQ, Inc. has a twelve month low of $17.88 and a twelve month high of $84.64. The business’s fifty day moving average is $57.13 and its two-hundred day moving average is $49.79.

IonQ (NYSE:IONQ – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). The business 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 firm’s quarterly revenue was up 221.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) EPS. Sell-side analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IonQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IONQ. Vanguard Group Inc. grew its holdings in IonQ by 18.5% during the 3rd quarter. Vanguard Group Inc. now owns 29,354,706 shares of the company’s stock worth $1,805,314,000 after acquiring an additional 4,587,260 shares during the period. State Street Corp boosted its position in shares of IonQ by 19.9% in the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company’s stock worth $387,423,000 after purchasing an additional 1,043,878 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of IonQ by 15.2% during the second quarter. Geode Capital Management LLC now owns 5,338,456 shares of the company’s stock worth $229,422,000 after purchasing an additional 705,301 shares during the period. JPMorgan Chase & Co. increased its holdings in IonQ by 12.5% in the third quarter. JPMorgan Chase & Co. now owns 3,008,001 shares of the company’s stock valued at $184,992,000 after purchasing an additional 333,653 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in IonQ by 30.3% in the third quarter. Northern Trust Corp now owns 2,737,026 shares of the company’s stock valued at $168,327,000 after purchasing an additional 636,482 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Rosenblatt Securities increased their price objective on IonQ from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Cantor Fitzgerald boosted their target price on shares of IonQ from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Benchmark upped their target price on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Finally, B. Riley boosted their price target on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.18.

View Our Latest Stock Analysis on IonQ

IonQ Company Profile

(Get Free Report)

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.

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