Kathryn K. Chou Sells 25,696 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) Director Kathryn K. Chou sold 25,696 shares of IonQ stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.46, for a total transaction of $1,039,660.16. Following the transaction, the director now directly owns 62,115 shares in the company, valued at approximately $2,513,172.90. The trade was a 29.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

IonQ Stock Performance

IONQ traded down $0.92 during trading on Friday, hitting $37.79. The stock had a trading volume of 19,334,687 shares, compared to its average volume of 18,650,839. The stock has a 50 day simple moving average of $33.19 and a two-hundred day simple moving average of $33.37. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market capitalization of $8.42 billion, a PE ratio of -46.65 and a beta of 2.59.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. The firm had revenue of $7.57 million during 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 business's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) EPS. On average, equities research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

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

About IonQ

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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