Key Points
- Director Kathryn Chou sold 20,000 shares on Dec. 11 at an average price of $51.40 for a total of $1,028,000, cutting her stake by 24.74% to 60,839 shares; the trade was disclosed in an SEC filing.
- IonQ's latest quarter showed a large EPS miss — ($3.58) vs a consensus ($0.44) — while revenue beat at $39.87M (up 221.5% YoY), though the company still reported very negative margins and return on equity.
- The stock opened at $50.31 (down about 4.3%), with a market cap of $17.48B, and analysts hold a consensus Hold rating with an average target price of $68.18 amid mixed buy/hold/sell opinions.
IonQ, Inc. (NYSE:IONQ - Get Free Report) Director Kathryn Chou sold 20,000 shares of IonQ stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the director owned 60,839 shares in the company, valued at $3,127,124.60. The trade was a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
IonQ Trading Down 4.3%
NYSE:IONQ opened at $50.31 on Friday. IonQ, Inc. has a 12 month low of $17.88 and a 12 month high of $84.64. The firm's 50 day moving average is $57.13 and its 200 day moving average is $49.79. The stock has a market capitalization of $17.48 billion, a PE ratio of -9.40 and a beta of 2.62.
IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($3.14). IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The firm had revenue of $39.87 million during the quarter, compared to analysts' expectations of $26.99 million. During the same period in the prior year, the business earned ($0.24) earnings per share. The business's quarterly revenue was up 221.5% compared to the same quarter last year. Research analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the stock. DA Davidson upped their price target on shares of IonQ from $35.00 to $55.00 and gave the company a "neutral" rating in a research note on Thursday, November 6th. Mizuho initiated coverage on shares of IonQ in a report on Thursday. They set an "outperform" rating and a $90.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of IonQ in a research report on Wednesday, October 8th. Cantor Fitzgerald lifted their price target on IonQ from $60.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, November 7th. Finally, Zacks Research upgraded IonQ from a "strong sell" rating to a "hold" rating in a research note on Tuesday, November 4th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $68.18.
Get Our Latest Analysis on IonQ
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in IONQ. Amazon Com Inc. purchased a new position in IonQ in the 2nd quarter worth approximately $36,705,000. Y Intercept Hong Kong Ltd bought a new position in shares of IonQ in the second quarter worth approximately $6,104,000. Norges Bank bought a new position in shares of IonQ in the second quarter worth approximately $114,767,000. Union Bancaire Privee UBP SA increased its stake in shares of IonQ by 8,150.0% in the second quarter. Union Bancaire Privee UBP SA now owns 82,500 shares of the company's stock worth $3,545,000 after buying an additional 81,500 shares during the period. Finally, Cookson Peirce & Co. Inc. raised its holdings in IonQ by 21.5% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 102,466 shares of the company's stock valued at $4,403,000 after buying an additional 18,124 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.
About IonQ
(
Get Free Report)
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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