IonQ (NYSE:IONQ) Trading Down 4.9%

IonQ, Inc. (NYSE:IONQGet Free Report) shares dropped 4.9% on Friday . The company traded as low as $6.33 and last traded at $6.47. Approximately 3,555,826 shares were traded during trading, a decline of 40% from the average daily volume of 5,912,289 shares. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

IONQ has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of IonQ in a research report on Thursday, May 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, IonQ has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Get Our Latest Research Report on IONQ

IonQ Trading Down 2.1 %

The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -7.80 and a beta of 2.11. The stock’s 50-day moving average price is $8.21 and its 200-day moving average price is $10.12.

IonQ (NYSE:IONQGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. IonQ had a negative net margin of 671.00% and a negative return on equity of 31.76%. The firm had revenue of $7.58 million for the quarter, compared to the consensus estimate of $7.08 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. As a group, analysts predict that IonQ, Inc. will post -0.89 earnings per share for the current year.

Insider Activity at IonQ

In related news, CEO Peter Hume Chapman sold 5,936 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $46,835.04. Following the transaction, the chief executive officer now owns 445,297 shares in the company, valued at approximately $3,513,393.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Peter Hume Chapman sold 5,936 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $46,835.04. Following the transaction, the chief executive officer now owns 445,297 shares in the company, valued at approximately $3,513,393.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas G. Kramer sold 4,610 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $36,372.90. Following the transaction, the chief financial officer now owns 949,614 shares in the company, valued at approximately $7,492,454.46. The disclosure for this sale can be found here. Insiders have sold 20,353 shares of company stock worth $160,585 in the last quarter. Company insiders own 11.60% of the company’s stock.

Institutional Trading of IonQ

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC increased its stake in IonQ by 28.0% during the 4th quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock valued at $56,000 after purchasing an additional 990 shares in the last quarter. C M Bidwell & Associates Ltd. increased its stake in IonQ by 61.2% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 4,542 shares of the company’s stock valued at $68,000 after purchasing an additional 1,724 shares in the last quarter. National Bank of Canada FI increased its stake in IonQ by 26.1% during the 4th quarter. National Bank of Canada FI now owns 8,000 shares of the company’s stock valued at $97,000 after purchasing an additional 1,655 shares in the last quarter. QCM Cayman Ltd. bought a new stake in IonQ during the 1st quarter valued at $120,000. Finally, Prospect Financial Services LLC bought a new stake in IonQ during the 4th quarter valued at $124,000. Institutional investors own 41.42% of the company’s stock.

About IonQ

(Get Free Report)

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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