IonQ (NYSE:IONQ) Trading Up 3.7%

IonQ, Inc. (NYSE:IONQ) rose 3.7% during trading on Thursday . The company traded as high as $9.98 and last traded at $9.90. Approximately 2,241,411 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 7,010,220 shares. The stock had previously closed at $9.55.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of IonQ in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

IonQ Stock Up 4.6 %

The business has a 50-day simple moving average of $10.44 and a 200-day simple moving average of $12.25. The company has a market cap of $2.08 billion, a PE ratio of -12.81 and a beta of 2.16.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, February 28th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. The company had revenue of $6.11 million during the quarter, compared to analysts’ expectations of $5.70 million. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. As a group, equities research analysts predict that IonQ, Inc. will post -1.24 EPS for the current fiscal year.

Insider Buying and Selling at IonQ

In other IonQ news, CTO Jungsang Kim sold 10,220 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $104,244.00. Following the sale, the chief technology officer now owns 6,619,941 shares of the company’s stock, valued at $67,523,398.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other IonQ news, CTO Jungsang Kim sold 10,220 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $104,244.00. Following the completion of the sale, the chief technology officer now owns 6,619,941 shares in the company, valued at $67,523,398.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Peter Hume Chapman sold 29,452 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $300,410.40. Following the completion of the sale, the chief executive officer now directly owns 451,233 shares of the company’s stock, valued at $4,602,576.60. The disclosure for this sale can be found here. Insiders sold 86,556 shares of company stock valued at $882,871 in the last 90 days. Company insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On IonQ

Institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC purchased a new position in shares of IonQ during the first quarter valued at approximately $140,000. Vontobel Holding Ltd. purchased a new position in IonQ in the first quarter valued at about $349,000. Vanguard Group Inc. boosted its position in shares of IonQ by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,766,033 shares of the company’s stock worth $48,054,000 after buying an additional 160,077 shares during the period. Ergoteles LLC acquired a new position in IonQ during the 1st quarter worth approximately $1,478,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in IonQ by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 567,723 shares of the company’s stock worth $7,245,000 after acquiring an additional 14,020 shares during the period. 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.