IonQ, Inc. (NYSE:IONQ – Get Free Report) saw an uptick in trading volume on Thursday . 27,688,041 shares were traded during mid-day trading, an increase of 8% from the previous session’s volume of 25,521,809 shares.The stock last traded at $57.8010 and had previously closed at $52.47.
Analyst Ratings Changes
Several research firms have recently weighed in on IONQ. Wall Street Zen downgraded shares of IonQ from a “sell” rating to a “strong sell” rating in a research note on Monday, May 11th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of IonQ in a research note on Thursday, February 26th. Morgan Stanley set a $48.50 price target on shares of IonQ in a research note on Thursday, May 7th. Benchmark decreased their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, IonQ has a consensus rating of “Moderate Buy” and an average target price of $68.63.
Check Out Our Latest Stock Report on IonQ
IonQ Price Performance
IonQ (NYSE:IONQ – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm had revenue of $64.67 million for the quarter, compared to analysts’ expectations of $49.75 million. During the same period last year, the firm earned ($0.14) earnings per share. IonQ’s revenue for the quarter was up 754.7% on a year-over-year basis. As a group, analysts anticipate that IonQ, Inc. will post -1.99 EPS for the current year.
Insiders Place Their Bets
In other news, Director William J. Teuber, Jr. bought 3,000 shares of IonQ stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $38.38 per share, with a total value of $115,140.00. Following the completion of the purchase, the director directly owned 9,413 shares of the company’s stock, valued at approximately $361,270.94. This trade represents a 46.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John W. Raymond sold 2,800 shares of IonQ stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $33.34, for a total transaction of $93,352.00. Following the transaction, the insider directly owned 83,963 shares in the company, valued at $2,799,326.42. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,354 shares of company stock valued at $504,428 over the last ninety days. Company insiders own 5.20% of the company’s stock.
Institutional Investors Weigh In On IonQ
Institutional investors have recently made changes to their positions in the stock. Ameriflex Group Inc. increased its position in shares of IonQ by 485.7% during the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after acquiring an additional 340 shares during the last quarter. Accent Capital Management LLC increased its position in shares of IonQ by 171.8% during the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of IonQ by 3,800.0% during the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after acquiring an additional 608 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of IonQ by 216.5% during the first quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company’s stock valued at $28,000 after acquiring an additional 656 shares during the last quarter. Finally, PeakShares LLC acquired a new stake in shares of IonQ during the first quarter valued at about $29,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.
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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.
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