IonQ (NYSE:IONQ) Director William Teuber, Jr. Purchases 2,000 Shares of Stock

IonQ, Inc. (NYSE:IONQ) Director William Teuber, Jr. acquired 2,000 shares of IonQ stock in a transaction on Tuesday, November 11th. The stock was purchased at an average cost of $54.81 per share, with a total value of $109,620.00. Following the purchase, the director directly owned 6,413 shares of the company’s stock, valued at approximately $351,496.53. This trade represents a 45.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

IonQ Trading Up 5.6%

Shares of IONQ stock traded up $2.56 during trading hours on Friday, reaching $47.96. The stock had a trading volume of 19,554,248 shares, compared to its average volume of 24,580,760. IonQ, Inc. has a 12 month low of $17.88 and a 12 month high of $84.64. The stock’s fifty day simple moving average is $62.35 and its 200 day simple moving average is $47.55. The firm has a market capitalization of $16.66 billion, a PE ratio of -8.94 and a beta of 2.59.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (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 firm had revenue of $39.87 million during the quarter, compared to analysts’ expectations of $26.99 million. During the same period in the prior year, the company earned ($0.24) EPS. The firm’s quarterly revenue was up 221.5% compared to the same quarter last year. IonQ has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IONQ shares. Weiss Ratings reissued a “sell (d-)” rating on shares of IonQ in a research note on Wednesday, October 8th. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Rosenblatt Securities raised their target price on IonQ from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Benchmark upped their target price on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, Oppenheimer assumed coverage on IonQ in a report on Wednesday, July 30th. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, IonQ presently has an average rating of “Hold” and an average price target of $68.11.

Hedge Funds Weigh In On IonQ

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. raised its position in shares of IonQ by 28.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock valued at $40,000 after buying an additional 223 shares in the last quarter. Hilltop National Bank grew its stake in shares of IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after purchasing an additional 225 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of IonQ by 4.3% in the third quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock worth $349,000 after acquiring an additional 235 shares during the period. Lauer Wealth LLC boosted its stake in shares of IonQ by 5.5% in the 3rd 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 last quarter. Finally, GAMMA Investing LLC grew its holdings in IonQ by 11.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,480 shares of the company’s stock worth $153,000 after acquiring an additional 261 shares during the period. Hedge funds and other institutional investors 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.