IonQ, Inc. (NYSE:IONQ - Get Free Report) CFO Thomas G. Kramer sold 72,000 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.26, for a total transaction of $3,042,720.00. Following the completion of the sale, the chief financial officer directly owned 646,516 shares in the company, valued at approximately $27,321,766.16. This represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
IonQ Stock Up 1.8%
NYSE:IONQ traded up $0.80 during trading hours on Tuesday, reaching $46.00. 19,822,347 shares of the company's stock were exchanged, compared to its average volume of 19,662,931. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of -30.87 and a beta of 2.55. The company has a 50-day moving average of $38.06 and a 200 day moving average of $33.97. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74.
IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million for the quarter, compared to the consensus estimate 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 firm earned ($0.19) earnings per share. Research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.
Institutional Trading of IonQ
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mirabaud & Cie SA purchased a new stake in shares of IonQ in the second quarter valued at about $230,000. Modus Advisors LLC acquired a new stake in shares of IonQ in the second quarter valued at about $219,000. Rowlandmiller & PARTNERS.ADV acquired a new stake in shares of IonQ in the second quarter valued at about $114,000. Rhumbline Advisers lifted its stake in shares of IonQ by 6.6% in the first quarter. Rhumbline Advisers now owns 323,930 shares of the company's stock valued at $7,149,000 after purchasing an additional 20,127 shares during the period. Finally, Strs Ohio acquired a new stake in shares of IonQ in the first quarter valued at about $1,017,000. Hedge funds and other institutional investors own 41.42% of the company's stock.
Wall Street Analyst Weigh In
IONQ has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of IonQ in a research report on Wednesday, June 11th. Cantor Fitzgerald began coverage on shares of IonQ in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 target price on the stock. DA Davidson decreased their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Benchmark increased their price target on shares of IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.43.
Read Our Latest Analysis on IonQ
About IonQ
(
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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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