IonQ, Inc. (NYSE:IONQ - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $39.39, but opened at $36.86. IonQ shares last traded at $36.38, with a volume of 10,890,114 shares.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Needham & Company LLC increased their target price on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Benchmark boosted their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. DA Davidson started coverage on IonQ in a research report on Thursday, December 19th. They issued a "buy" rating and a $50.00 price target for the company. Finally, Craig Hallum lifted their price objective on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.00.
Get Our Latest Report on IONQ
IonQ Stock Down 6.2 %
The stock has a market capitalization of $8.43 billion, a PE ratio of -48.09 and a beta of 2.43. The business's fifty day moving average is $35.80 and its two-hundred day moving average is $18.62.
IonQ (NYSE:IONQ - Get Free Report) last posted 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). The business had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business's quarterly revenue was up 102.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) earnings per share. Sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CRO Rima Alameddine sold 22,875 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.75, for a total transaction of $406,031.25. Following the completion of the sale, the executive now directly owns 592,658 shares of the company's stock, valued at approximately $10,519,679.50. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,098 shares of company stock valued at $1,909,323 in the last ninety days. 11.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On IonQ
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of IonQ by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock valued at $14,107,000 after purchasing an additional 135,851 shares in the last quarter. Carnegie Investment Counsel purchased a new position in shares of IonQ in the 3rd quarter valued at $5,036,000. Yong Rong HK Asset Management Ltd bought a new position in shares of IonQ in the 3rd quarter worth $3,749,000. Rockefeller Capital Management L.P. boosted its position in IonQ by 34.2% during the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company's stock valued at $3,825,000 after purchasing an additional 111,435 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in IonQ in the third quarter worth about $1,631,000. 41.42% of the stock is owned by institutional investors.
About IonQ
(
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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.
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