Masi Niccolo De Sells 9,280 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) CEO Masi Niccolo De sold 9,280 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $42.23, for a total transaction of $391,894.40. Following the completion of the transaction, the chief executive officer now directly owns 711,987 shares in the company, valued at $30,067,211.01. This represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

IonQ Stock Down 2.4%

IonQ stock traded down $0.92 during trading hours on Friday, hitting $37.79. 19,220,522 shares of the company traded hands, compared to its average volume of 18,593,091. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The firm has a market cap of $8.42 billion, a P/E ratio of -46.65 and a beta of 2.59. The firm's 50-day simple moving average is $32.86 and its two-hundred day simple moving average is $33.32.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. During the same period last year, the firm posted ($0.19) earnings per share. The business's revenue was down .2% on a year-over-year basis. On average, equities research analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of IonQ in a research report on Wednesday. DA Davidson dropped their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Benchmark lifted their price target on IonQ from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $40.00.

Institutional Investors Weigh In On IonQ

A number of institutional investors and hedge funds have recently modified their holdings of IONQ. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ during the fourth quarter valued at approximately $26,000. ORG Partners LLC grew its position in 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 position in 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 IonQ during the 4th quarter valued at $27,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of IonQ in the fourth quarter valued at $33,000. 41.42% of the stock is owned by institutional investors and hedge funds.

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.