Kathryn Chou Sells 20,000 Shares of IonQ (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) Director Kathryn Chou sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the sale, the director directly owned 60,839 shares of the company’s stock, valued at approximately $3,127,124.60. The trade was a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

IonQ Stock Performance

Shares of NYSE IONQ opened at $50.31 on Friday. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of -9.40 and a beta of 2.62. IonQ, Inc. has a fifty-two week low of $17.88 and a fifty-two week high of $84.64. The firm’s 50-day simple moving average is $57.13 and its 200 day simple moving average is $49.80.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.14). IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The company had revenue of $39.87 million during the quarter, compared to analysts’ expectations of $26.99 million. During the same period last year, the company earned ($0.24) earnings per share. The business’s revenue for the quarter was up 221.5% compared to the same quarter last year. On average, sell-side analysts predict that IonQ, Inc. will post -0.86 EPS for the current year.

Institutional Trading of IonQ

Large investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. boosted its stake in IonQ by 28.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock valued at $40,000 after acquiring an additional 223 shares during the last quarter. Hilltop National Bank lifted its stake in IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. International Assets Investment Management LLC lifted its stake in IonQ by 4.3% in the third quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock valued at $349,000 after purchasing an additional 235 shares during the last quarter. Lauer Wealth LLC grew its holdings in IonQ by 5.5% during the third quarter. Lauer Wealth LLC now owns 4,852 shares of the company’s stock valued at $298,000 after purchasing an additional 255 shares during the period. Finally, GAMMA Investing LLC increased its position in IonQ by 11.8% in the third quarter. GAMMA Investing LLC now owns 2,480 shares of the company’s stock worth $153,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analysts Set New Price Targets

IONQ has been the topic of several recent analyst reports. Cantor Fitzgerald raised their price objective on IonQ from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. B. Riley increased their target price on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a report on Monday, September 22nd. DA Davidson boosted their price target on shares of IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of IonQ in a research report on Thursday, November 6th. Finally, Mizuho initiated coverage on shares of IonQ in a research note on Thursday. They issued an “outperform” rating and a $90.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, IonQ has a consensus rating of “Hold” and an average target price of $68.18.

About IonQ

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.