IonQ Sees Unusually High Options Volume (NYSE:IONQ)

IonQ, Inc. (NYSE:IONQ - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 19,060 call options on the company. This is an increase of 72% compared to the typical daily volume of 11,110 call options.

Analysts Set New Price Targets

A number of research analysts have weighed in on IONQ shares. Needham & Company LLC reissued a "buy" rating and issued a $13.00 target price on shares of IonQ in a research note on Wednesday, October 2nd. Benchmark cut their price target on shares of IonQ from $16.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 12th. Craig Hallum cut their price target on shares of IonQ from $21.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group cut their price target on shares of IonQ from $11.50 to $8.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.00.

IonQ Trading Up 17.3 %

IonQ stock traded up $1.82 during trading on Wednesday, hitting $12.31. The company had a trading volume of 17,180,653 shares, compared to its average volume of 6,059,778. IonQ has a 1-year low of $6.22 and a 1-year high of $15.49. The company's 50 day simple moving average is $7.95 and its 200-day simple moving average is $8.03. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -13.88 and a beta of 2.05.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. The firm had revenue of $11.38 million during the quarter, compared to the consensus estimate of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The firm's revenue for the quarter was up 106.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.16) EPS. As a group, analysts forecast that IonQ will post -0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 9,159 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $10.72, for a total value of $98,184.48. Following the transaction, the executive now directly owns 648,783 shares of the company's stock, valued at $6,954,953.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.60% of the company's stock.

Hedge Funds Weigh In On IonQ

Several institutional investors have recently modified their holdings of IONQ. Good Life Advisors LLC purchased a new stake in shares of IonQ during the 3rd quarter worth $250,000. nVerses Capital LLC purchased a new stake in IonQ in the third quarter valued at $72,000. Vontobel Holding Ltd. lifted its position in IonQ by 49.5% in the third quarter. Vontobel Holding Ltd. now owns 42,562 shares of the company's stock valued at $372,000 after acquiring an additional 14,095 shares during the last quarter. Creative Planning increased its stake in shares of IonQ by 47.8% during the third quarter. Creative Planning now owns 24,364 shares of the company's stock worth $213,000 after acquiring an additional 7,878 shares during the period. Finally, Carnegie Investment Counsel acquired a new position in shares of IonQ during the third quarter worth about $5,036,000. Institutional investors and hedge funds 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.

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