IonQ (NYSE:IONQ) Insider Sells $443,211.96 in Stock

Key Points

• IonQ insider Robert Cardillo sold 8,773 shares for $443,211.96, reducing his stake by 18.99% and retaining 37,436 shares valued at approximately $1.89 million.
• The company's recent earnings report showed a loss of ($0.70) per share, significantly missing estimates, although revenue increased 81.6% year-over-year to $20.69 million.
• Analysts have mixed views on IonQ, with price targets ranging from $35.00 to $80.00, reflecting a consensus rating of "Moderate Buy."

IonQ, Inc. (NYSE:IONQ - Get Free Report) insider Robert Cardillo sold 8,773 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $50.52, for a total value of $443,211.96. Following the sale, the insider owned 37,436 shares of the company's stock, valued at $1,891,266.72. This trade represents a 18.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

IonQ Stock Performance

IONQ traded up $2.92 during trading on Tuesday, hitting $62.03. The stock had a trading volume of 30,445,974 shares, compared to its average volume of 17,387,708. The firm has a market capitalization of $18.41 billion, a P/E ratio of -30.86 and a beta of 2.54. IonQ, Inc. has a twelve month low of $7.50 and a twelve month high of $62.85. The company's 50-day moving average price is $42.94 and its 200 day moving average price is $35.56.

IonQ (NYSE:IONQ - Get Free Report) last issued its 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 firm had revenue of $20.69 million during the quarter, compared to analysts' expectations of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The firm's revenue was up 81.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, equities analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on IONQ. DA Davidson downgraded IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research note on Thursday, August 7th. Sanford C. Bernstein started coverage on IonQ in a report on Wednesday, July 30th. They set a "market perform" rating on the stock. Needham & Company LLC increased their price target on shares of IonQ from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday. Wolfe Research assumed coverage on IonQ in a research report on Wednesday, July 30th. They issued a "peer perform" rating on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and set a $70.00 price target on shares of IonQ in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.33.

Institutional Investors Weigh In On IonQ

A number of hedge funds have recently bought and sold shares of the business. Archer Investment Corp lifted its position in shares of IonQ by 119.3% in the 2nd quarter. Archer Investment Corp now owns 592 shares of the company's stock worth $25,000 after buying an additional 322 shares during the last quarter. ORG Partners LLC lifted its stake in IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock valued at $26,000 after buying an additional 870 shares during the last quarter. Future Financial Wealth Managment LLC boosted its holdings in shares of IonQ by 50.0% during the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares during the period. Farther Finance Advisors LLC grew its position in shares of IonQ by 780.1% during the first quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after acquiring an additional 1,295 shares during the last quarter. Finally, Close Asset Management Ltd acquired a new stake in shares of IonQ in the 1st quarter worth about $35,000. Institutional investors and hedge funds own 41.42% of the company's stock.

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.

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