Stock Traders Purchase Large Volume of IonQ Call Options (NYSE:IONQ)

IonQ, Inc. (NYSE:IONQ - Get Free Report) was the target of unusually large options trading activity on Thursday. Stock investors purchased 93,033 call options on the stock. This represents an increase of approximately 41% compared to the typical daily volume of 66,202 call options.

IonQ Trading Down 2.0 %

Shares of IonQ stock traded down $0.63 during trading on Friday, reaching $31.21. The stock had a trading volume of 19,030,876 shares, compared to its average volume of 16,467,953. The stock has a fifty day moving average price of $24.91 and a two-hundred day moving average price of $30.47. IonQ has a 52 week low of $6.22 and a 52 week high of $54.74. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of -38.53 and a beta of 2.46.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. During the same period last year, the business earned ($0.19) EPS. The business's quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that IonQ will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other IonQ news, insider Peter Hume Chapman sold 2,000,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the transaction, the insider now directly owns 414,363 shares in the company, valued at approximately $7,756,875.36. This represents a 82.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Rima Alameddine sold 1,407 shares of IonQ stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the sale, the executive now owns 592,615 shares of the company's stock, valued at approximately $12,563,438. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,033,166 shares of company stock worth $38,059,593 in the last 90 days. Corporate insiders own 11.60% of the company's stock.

Institutional Trading of IonQ

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC bought a new stake in shares of IonQ during the 4th quarter worth approximately $26,000. ORG Partners LLC raised its position in IonQ by 348.0% during the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after acquiring an additional 870 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of IonQ in the 4th quarter valued at about $27,000. Finally, TD Waterhouse Canada Inc. acquired a new position in shares of IonQ during the 4th quarter worth about $33,000. Institutional investors own 41.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IONQ shares. Needham & Company LLC dropped their price objective on IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley boosted their price objective on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday. DA Davidson cut their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group boosted their price target on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Finally, Benchmark decreased their target price on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.33.

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.