IonQ Sees Unusually High Options Volume (NYSE:IONQ)

IonQ, Inc. (NYSE:IONQ - Get Free Report) was the target of unusually large options trading activity on Monday. Stock investors bought 86,297 call options on the company. This represents an increase of 34% compared to the typical daily volume of 64,217 call options.

IonQ Trading Down 6.6%

Shares of NYSE:IONQ traded down $2.82 during trading on Tuesday, reaching $40.15. The stock had a trading volume of 18,509,261 shares, compared to its average volume of 19,344,936. The firm's 50-day simple moving average is $36.46 and its 200 day simple moving average is $33.88. IonQ has a one year low of $6.22 and a one year high of $54.74. The company has a market capitalization of $10.50 billion, a P/E ratio of -27.11 and a beta of 2.59.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The company had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. IonQ's revenue was down .2% compared to the same quarter last year. During the same period last year, the firm earned ($0.19) earnings per share. Equities research analysts forecast that IonQ will post -0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on IONQ shares. DA Davidson dropped their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of IonQ in a research note on Wednesday, June 11th. Benchmark reissued a "buy" rating and set a $50.00 price objective on shares of IonQ in a report on Wednesday, June 25th. Finally, Morgan Stanley upped their target price on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

Insiders Place Their Bets

In related news, CEO Masi Niccolo De sold 2,597,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total value of $104,783,150.00. Following the completion of the sale, the chief executive officer owned 711,987 shares in the company, valued at approximately $28,721,555.58. The trade was a 78.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn K. Chou sold 25,696 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $40.46, for a total value of $1,039,660.16. Following the transaction, the director owned 62,115 shares in the company, valued at $2,513,172.90. The trade was a 29.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,972,201 shares of company stock worth $350,540,009. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC boosted its holdings in IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after acquiring an additional 870 shares in 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. TD Waterhouse Canada Inc. purchased a new stake in IonQ during the 4th quarter worth approximately $33,000. Finally, Future Financial Wealth Managment LLC increased its stake in IonQ by 50.0% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. 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.