Paul Dacier Sells 4,175 Shares of IonQ (NYSE:IONQ) Stock

Key Points

• Paul Dacier, an insider at IonQ, sold 4,175 shares at an average price of $44.40, totaling $185,370, reducing their ownership in the company by 3.52% to 114,454 shares.
• IonQ's stock has seen a significant price increase of 18.4%, trading at $55.72 following the sale, with a notable trading volume of 68.6 million shares.
• The firm reported a negative EPS of ($0.70) for the last quarter, missing analyst estimates, though revenue grew by 81.6% year-over-year to reach $20.69 million.

IonQ, Inc. (NYSE:IONQ - Get Free Report) insider Paul Dacier sold 4,175 shares of IonQ stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $185,370.00. Following the completion of the transaction, the insider directly owned 114,454 shares in the company, valued at $5,081,757.60. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

IonQ Trading Up 18.4%

Shares of IonQ stock traded up $8.67 during trading on Friday, reaching $55.72. The company's stock had a trading volume of 68,647,417 shares, compared to its average volume of 13,139,874. The company has a 50-day moving average price of $42.33 and a two-hundred day moving average price of $35.02. The firm has a market cap of $16.54 billion, a PE ratio of -27.72 and a beta of 2.54. IonQ, Inc. has a fifty-two week low of $7.40 and a fifty-two week high of $56.07.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.57). The business had revenue of $20.69 million during the quarter, compared to analyst estimates of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The business's revenue was up 81.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) earnings per share. On average, analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IonQ

Institutional investors and hedge funds have recently made changes to their positions in the stock. Archer Investment Corp grew its stake in shares of IonQ by 119.3% during the 2nd quarter. Archer Investment Corp now owns 592 shares of the company's stock worth $25,000 after purchasing an additional 322 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company's stock worth $36,000 after purchasing an additional 279 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of IonQ during the 2nd quarter worth $39,000. Huntington National Bank grew its stake in shares of IonQ by 2,034.0% during the 2nd quarter. Huntington National Bank now owns 1,003 shares of the company's stock worth $43,000 after purchasing an additional 956 shares during the period. Finally, Virtus Fund Advisers LLC acquired a new position in shares of IonQ during the 4th quarter worth $42,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a "peer perform" rating on the stock. Oppenheimer initiated coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued an "outperform" rating on the stock. Benchmark boosted their price objective on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Cantor Fitzgerald initiated coverage on shares of IonQ in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 price objective on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a "market perform" rating on the stock. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $46.78.

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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