IonQ Target of Unusually High Options Trading (NYSE:IONQ)

IonQ, Inc. (NYSE:IONQ - Get Free Report) was the target of some unusual options trading activity on Friday. Stock investors bought 42,889 call options on the stock. This is an increase of approximately 61% compared to the average daily volume of 26,560 call options.

IonQ Trading Up 11.4 %

IONQ stock traded up $2.98 during mid-day trading on Friday, reaching $29.14. The company's stock had a trading volume of 37,438,482 shares, compared to its average volume of 8,382,030. IonQ has a 12 month low of $6.22 and a 12 month high of $29.48. The business's 50 day moving average price is $12.55 and its 200 day moving average price is $9.47. The company has a market cap of $6.24 billion, a price-to-earnings ratio of -34.52 and a beta of 1.89.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The business's revenue was up 102.1% compared to the same quarter last year. As a group, equities analysts expect that IonQ will post -0.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IONQ shares. Needham & Company LLC raised their price target on shares of IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group cut their target price on IonQ from $11.50 to $8.00 and set a "neutral" rating on the stock in a report on Friday, August 9th. Benchmark increased their price target on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Craig Hallum raised their price target on shares of IonQ from $15.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, November 7th.

Insider Activity at IonQ

In other news, CRO Rima Alameddine sold 9,875 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total value of $115,735.00. Following the completion of the transaction, the executive now owns 638,908 shares of the company's stock, valued at $7,488,001.76. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 66,000 shares of company stock valued at $972,331 in the last quarter. Insiders own 11.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONQ. Quest Partners LLC boosted its stake in IonQ by 4,824.2% during the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company's stock valued at $46,000 after purchasing an additional 6,368 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of IonQ in the second quarter valued at approximately $67,000. nVerses Capital LLC purchased a new position in shares of IonQ during the third quarter valued at approximately $72,000. Mosley Wealth Management bought a new stake in IonQ during the second quarter worth $81,000. Finally, Xponance Inc. purchased a new stake in IonQ in the 2nd quarter valued at $88,000. 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.