IonQ, Inc. (NYSE:IONQ - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $76.13 and last traded at $75.04, with a volume of 39899397 shares. The stock had previously closed at $71.94.
Wall Street Analyst Weigh In
Several research analysts recently commented on IONQ shares. DA Davidson downgraded shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 target price on the stock. in a research note on Thursday, August 7th. Wolfe Research started coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a "peer perform" rating on the stock. Needham & Company LLC lifted their target price on shares of IonQ from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Benchmark lifted their target price on shares of IonQ from $55.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Finally, Sanford C. Bernstein started coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a "market perform" rating on the stock. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, IonQ has a consensus rating of "Moderate Buy" and an average price target of $58.33.
Read Our Latest Analysis on IonQ
IonQ Stock Up 4.3%
The firm has a market cap of $22.27 billion, a P/E ratio of -37.33 and a beta of 2.54. The firm's fifty day moving average is $45.59 and its two-hundred day moving average is $37.23.
IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.57). The company had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The business's revenue was up 81.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) EPS. As a group, sell-side analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.
Insider Activity
In other news, insider Paul T. Dacier sold 4,175 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $185,370.00. Following the sale, the insider owned 114,454 shares in the company, valued at approximately $5,081,757.60. The trade was a 3.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert T. Cardillo sold 8,773 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $50.52, for a total transaction of $443,211.96. Following the sale, the insider owned 37,436 shares in the company, valued at approximately $1,891,266.72. This trade represents a 18.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,047 shares of company stock worth $15,645,611. 5.20% of the stock is currently owned by corporate insiders.
Institutional Trading of IonQ
A number of hedge funds have recently modified their holdings of IONQ. Vanguard Group Inc. boosted its holdings in shares of IonQ by 15.2% during the 2nd quarter. Vanguard Group Inc. now owns 24,767,446 shares of the company's stock valued at $1,064,257,000 after buying an additional 3,269,482 shares in the last quarter. Norges Bank bought a new stake in shares of IonQ during the 2nd quarter valued at $114,767,000. JPMorgan Chase & Co. boosted its holdings in shares of IonQ by 648.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company's stock valued at $114,917,000 after buying an additional 2,317,058 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in IonQ by 262.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company's stock worth $24,768,000 after purchasing an additional 930,490 shares in the last quarter. Finally, Amazon Com Inc. bought a new position in IonQ in the 2nd quarter worth about $36,705,000. Institutional investors own 41.42% of the company's stock.
About IonQ
(
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.
See Also
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