Investors Purchase Large Volume of Call Options on IonQ (NYSE:IONQ)

IonQ, Inc. (NYSE:IONQ - Get Free Report) was the target of some unusual options trading activity on Monday. Traders bought 68,802 call options on the company. This is an increase of approximately 63% compared to the average volume of 42,278 call options.

Wall Street Analyst Weigh In

IONQ has been the subject of several research reports. Benchmark lifted their price objective 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. Craig Hallum boosted 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. Finally, Needham & Company LLC boosted their price target on shares of IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, November 7th.

Insider Buying and Selling at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares of the company's stock, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,223 shares of company stock valued at $2,286,983. Company insiders own 11.60% of the company's stock.

Institutional Investors Weigh In On IonQ

Several hedge funds have recently modified their holdings of IONQ. Charles Schwab Investment Management Inc. raised its holdings in IonQ by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock valued at $14,107,000 after buying an additional 135,851 shares during the period. Carnegie Investment Counsel acquired a new position in IonQ in the third quarter worth $5,036,000. Yong Rong HK Asset Management Ltd acquired a new position in IonQ in the third quarter worth $3,749,000. Rockefeller Capital Management L.P. boosted its holdings in shares of 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 acquiring an additional 111,435 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of IonQ during the third quarter valued at $1,631,000. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Price Performance

Shares of IONQ traded up $7.97 during mid-day trading on Monday, reaching $41.80. 42,436,265 shares of the company's stock were exchanged, compared to its average volume of 10,062,493. The stock has a market capitalization of $9.05 billion, a PE ratio of -44.80 and a beta of 2.49. The business's fifty day simple moving average is $22.61 and its 200-day simple moving average is $12.91. IonQ has a 52-week low of $6.22 and a 52-week high of $42.81.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results 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 return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. During the same period in the prior year, the business earned ($0.22) earnings per share. IonQ's revenue for the quarter was up 102.1% compared to the same quarter last year. Equities research analysts predict that IonQ will post -0.86 earnings per share for the current year.

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.