IonQ, Inc. (NYSE:IONQ) Director Sells $32,868.00 in Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) Director Gabrielle B. Toledano sold 792 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $41.50, for a total value of $32,868.00. Following the sale, the director now directly owns 792 shares of the company's stock, valued at $32,868. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

IonQ Trading Down 2.4%

IONQ traded down $0.92 during midday trading on Friday, reaching $37.79. The company's stock had a trading volume of 19,334,687 shares, compared to its average volume of 18,713,733. The stock has a market cap of $9.89 billion, a P/E ratio of -46.65 and a beta of 2.59. The company has a fifty day simple moving average of $33.19 and a 200 day simple moving average of $33.38. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company's revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. Sell-side analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

Institutional Trading of IonQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC acquired a new stake in IonQ in the 4th quarter valued at approximately $26,000. ORG Partners LLC grew its holdings in shares of IonQ by 348.0% during the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after purchasing an additional 870 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after purchasing an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new stake in shares of IonQ during the 4th quarter worth approximately $27,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Analysts Set New Price Targets

IONQ has been the topic of a number of analyst reports. Benchmark increased their price objective on IonQ from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday. DA Davidson lowered their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of IonQ in a report on Wednesday. Finally, Morgan Stanley increased their price objective on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

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.