IonQ, Inc. (NYSE:IONQ) CEO Sells $389,641.38 in Stock

IonQ, Inc. (NYSE:IONQ) CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

IonQ Trading Up 12.8 %

Shares of IONQ stock opened at $33.83 on Friday. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $38.45. The business’s 50 day moving average is $22.61 and its two-hundred day moving average is $12.88. The company has a market capitalization of $7.32 billion, a P/E ratio of -41.77 and a beta of 2.49.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The business had revenue of $12.40 million for the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company’s quarterly revenue was up 102.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) EPS. On average, research analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IONQ. Craig Hallum raised their target price on IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark lifted their target price on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC boosted their target price on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Institutional Trading of IonQ

Several institutional investors have recently modified their holdings of IONQ. Quest Partners LLC raised its position in shares of IonQ by 4,824.2% during the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after purchasing an additional 6,368 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in IonQ during the 2nd quarter worth approximately $67,000. nVerses Capital LLC acquired a new position in shares of IonQ during the third quarter valued at approximately $72,000. Mosley Wealth Management purchased a new position in shares of IonQ in the second quarter valued at approximately $81,000. Finally, Xponance Inc. acquired a new stake in shares of IonQ in the second quarter worth approximately $88,000. Institutional investors and hedge funds 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.