IonQ, Inc. (NYSE:IONQ) CEO Sells 13,106 Shares

IonQ, Inc. (NYSE:IONQ) CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

IonQ Stock Up 12.8 %

IonQ stock opened at $33.83 on Monday. The stock has a 50-day simple moving average of $22.61 and a 200 day simple moving average of $12.91. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -41.77 and a beta of 2.49. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $38.45.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The company’s revenue was up 102.1% on a year-over-year basis. As a group, sell-side analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IONQ. Quest Partners LLC raised its position in shares of IonQ by 4,824.2% during the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after acquiring an additional 6,368 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in IonQ in the second quarter worth about $67,000. nVerses Capital LLC bought a new stake in IonQ during the 3rd quarter worth about $72,000. Mosley Wealth Management acquired a new position in IonQ during the 2nd quarter valued at about $81,000. Finally, Xponance Inc. bought a new position in shares of IonQ in the 2nd quarter valued at about $88,000. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several analyst reports. Needham & Company LLC upped their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Craig Hallum upped their price objective on shares of IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Benchmark lifted their target price on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

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.