Wendy Thomas Sells 16,696 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) Director Wendy Thomas sold 16,696 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $39.43, for a total value of $658,323.28. Following the sale, the director now directly owns 61,145 shares in the company, valued at $2,410,947.35. This trade represents a 21.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

IonQ Stock Performance

IONQ stock traded down $0.92 during mid-day trading on Friday, reaching $37.79. 19,334,687 shares of the stock traded hands, compared to its average volume of 18,650,839. The stock has a market capitalization of $8.42 billion, a PE ratio of -46.65 and a beta of 2.59. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The business has a 50-day moving average price of $33.19 and a two-hundred day moving average price of $33.37.

IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. The business had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business's revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, equities analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of IonQ in a research note on Wednesday. DA Davidson reduced 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. Morgan Stanley increased their price target on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Finally, Benchmark boosted their price objective on IonQ from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, IonQ has an average rating of "Moderate Buy" and an average price target of $40.00.

Institutional Investors Weigh In On IonQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC purchased a new stake in IonQ in the 4th quarter valued at about $26,000. ORG Partners LLC raised its stake in shares of IonQ by 348.0% during the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock valued at $26,000 after acquiring an additional 870 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after purchasing an additional 501 shares during the period. Measured Risk Portfolios Inc. bought a new position in IonQ in the fourth quarter worth approximately $27,000. Finally, TD Waterhouse Canada Inc. purchased a new position in IonQ during the 4th quarter worth $33,000. Institutional investors own 41.42% of the company's stock.

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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