IonQ, Inc. (NYSE:IONQ) Director Kathryn K. Chou Sells 5,000 Shares

IonQ, Inc. (NYSE:IONQ - Get Free Report) Director Kathryn K. Chou sold 5,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $46.18, for a total transaction of $230,900.00. Following the sale, the director directly owned 67,628 shares of the company's stock, valued at approximately $3,123,061.04. The trade was a 6.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

IonQ Stock Up 0.9%

IONQ stock traded up $0.43 during mid-day trading on Thursday, hitting $45.99. The company had a trading volume of 19,480,471 shares, compared to its average volume of 19,877,900. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The company has a 50-day moving average price of $38.76 and a 200 day moving average price of $34.13.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million for the quarter, compared to analysts' expectations of $7.51 million. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) EPS. Analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IONQ has been the topic of a number of analyst reports. DA Davidson lowered their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of IonQ in a research note on Wednesday, June 11th. Morgan Stanley lifted their target price on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Benchmark lifted their target price on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday. Finally, Cantor Fitzgerald initiated coverage on shares of IonQ in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.43.

Hedge Funds Weigh In On IonQ

Several hedge funds have recently added to or reduced their stakes in IONQ. Smartleaf Asset Management LLC grew its stake in IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after acquiring an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new position in shares of IonQ in the fourth quarter worth $27,000. TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ in the fourth quarter worth $33,000. Sandy Spring Bank increased its stake in shares of IonQ by 350.0% in the fourth quarter. Sandy Spring Bank now owns 900 shares of the company's stock worth $38,000 after acquiring an additional 700 shares during the period. Finally, Lindbrook Capital LLC grew its position in IonQ by 1,162.2% during the fourth quarter. Lindbrook Capital LLC now owns 934 shares of the company's stock valued at $39,000 after buying an additional 860 shares during the period. 41.42% of the stock is currently owned by institutional investors.

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.