IonQ, Inc. (NYSE:IONQ) Director Gabrielle B. Toledano Sells 792 Shares of Stock

IonQ, Inc. (NYSE:IONQ) Director Gabrielle B. Toledano sold 792 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $41.50, for a total transaction of $32,868.00. Following the completion of the sale, the director now owns 792 shares in the company, valued at approximately $32,868. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

IonQ Stock Down 2.4%

IONQ stock opened at $37.79 on Friday. The stock has a market cap of $8.42 billion, a PE ratio of -46.65 and a beta of 2.59. The firm’s 50-day simple moving average is $33.19 and its 200 day simple moving average is $33.37. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same period in the prior year, the company posted ($0.19) EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On IonQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in IonQ by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company’s stock valued at $474,460,000 after buying an additional 123,839 shares during the period. Geode Capital Management LLC raised its holdings in IonQ by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company’s stock worth $186,593,000 after purchasing an additional 45,942 shares in the last quarter. JPMorgan Chase & Co. lifted its position in IonQ by 1,310.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock worth $103,095,000 after purchasing an additional 2,293,231 shares during the period. Northern Trust Corp lifted its position in IonQ by 12.6% in the fourth quarter. Northern Trust Corp now owns 1,934,625 shares of the company’s stock worth $80,809,000 after purchasing an additional 216,752 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in IonQ by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock valued at $68,740,000 after purchasing an additional 31,638 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IONQ. DA Davidson reduced their target price on IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Morgan Stanley boosted their target price on shares of IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of IonQ in a research report on Wednesday. Finally, Benchmark boosted their price objective on shares of IonQ from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.