IonQ, Inc. (NYSE:IONQ) CEO Sells $391,894.40 in Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) CEO Masi Niccolo De sold 9,280 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $42.23, for a total value of $391,894.40. Following the sale, the chief executive officer now owns 711,987 shares in the company, valued at $30,067,211.01. The trade was a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

IonQ Trading Up 0.1%

Shares of IonQ stock traded up $0.05 during trading hours on Wednesday, reaching $39.79. The stock had a trading volume of 53,158,400 shares, compared to its average volume of 23,608,824. The firm has a market capitalization of $8.87 billion, a PE ratio of -49.13 and a beta of 2.59. The stock's 50 day moving average is $32.15 and its 200 day moving average is $33.22. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. The company had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) earnings per share. As a group, sell-side analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.

Hedge Funds Weigh In On IonQ

Several large investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC purchased a new stake in shares of IonQ in the 4th quarter valued at $26,000. ORG Partners LLC increased its stake 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 buying an additional 870 shares during the period. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new position in IonQ in the 4th quarter valued at approximately $27,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ in the fourth quarter valued at $33,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. DA Davidson lowered their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley lifted their price target on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a 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 note on Wednesday. Finally, Benchmark boosted their price target on IonQ from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, IonQ has a consensus rating of "Moderate Buy" and an average target price of $40.00.

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.