Peter Hume Chapman Sells 11,965 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) insider Peter Hume Chapman sold 11,965 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $41.60, for a total transaction of $497,744.00. Following the transaction, the insider now directly owns 390,329 shares in the company, valued at approximately $16,237,686.40. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

IonQ Price Performance

IONQ traded down $0.92 during trading on Friday, hitting $37.79. The company had a trading volume of 19,334,687 shares, compared to its average volume of 18,650,839. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The company has a market cap of $8.42 billion, a PE ratio of -46.65 and a beta of 2.59. The business has a 50-day moving average of $33.19 and a 200-day moving average of $33.37.

IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $7.51 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The company's revenue for the quarter was down .2% on a year-over-year basis. Research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Institutional Trading of IonQ

Several hedge funds and other institutional investors have recently bought and sold shares of IONQ. PDS Planning Inc lifted its holdings in IonQ by 2.6% during the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after buying an additional 300 shares during the last quarter. Mariner LLC raised its position in shares of IonQ by 0.6% during the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after acquiring an additional 350 shares in the last quarter. Allworth Financial LP lifted its stake in IonQ by 15.2% during the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after purchasing an additional 363 shares during the last quarter. Future Financial Wealth Managment LLC lifted its stake in IonQ by 50.0% during the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its holdings in IonQ by 2.5% in the first quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock worth $452,000 after purchasing an additional 500 shares during the period. 41.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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