IonQ (NYSE:IONQ) Trading Up 3.7%

IonQ, Inc. (NYSE:IONQ)’s stock price was up 3.7% during mid-day trading on Thursday . The company traded as high as $9.98 and last traded at $9.90. Approximately 2,241,411 shares traded hands 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.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IONQ. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of IonQ in a research report on Thursday, February 29th. The Goldman Sachs Group decreased their price target 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, IonQ has an average rating of “Moderate Buy” and a consensus target price of $16.50.

IonQ Trading Up 4.6 %

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

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.03. The business had revenue of $6.11 million for the quarter, compared to analyst estimates of $5.70 million. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. Analysts expect that IonQ, Inc. will post -1.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Jungsang Kim sold 10,220 shares of the company’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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Peter Hume Chapman sold 29,452 shares of the business’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 transaction, the chief executive officer now owns 451,233 shares of the company’s stock, valued at $4,602,576.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Jungsang Kim sold 10,220 shares of the company’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 transaction of $104,244.00. Following the transaction, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at approximately $67,523,398.20. The disclosure for this sale can be found here. Insiders sold 86,556 shares of company stock valued at $882,871 in the last ninety days. Insiders own 13.00% of the company’s stock.

Institutional Trading of IonQ

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of IonQ by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 17,906,731 shares of the company’s stock valued at $221,864,000 after acquiring an additional 193,924 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of IonQ by 65.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 628,542 shares of the company’s stock worth $7,788,000 after buying an additional 248,245 shares during the last quarter. Virtu Financial LLC bought a new position in shares of IonQ in the fourth quarter valued at approximately $554,000. Prospect Financial Services LLC bought a new stake in IonQ during the 4th quarter valued at approximately $124,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in IonQ by 747.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 729,967 shares of the company’s stock valued at $9,046,000 after buying an additional 643,877 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

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.