Insider Buying: IonQ (NYSE:IONQ) Director Purchases $109,620.00 in Stock

IonQ, Inc. (NYSE:IONQ) Director William Teuber, Jr. purchased 2,000 shares of IonQ stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average price of $54.81 per share, for a total transaction of $109,620.00. Following the transaction, the director owned 6,413 shares in the company, valued at $351,496.53. This represents a 45.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

IonQ Trading Up 3.6%

IONQ opened at $47.04 on Friday. The stock has a market capitalization of $16.34 billion, a PE ratio of -8.79 and a beta of 2.59. The firm has a 50-day moving average price of $62.45 and a two-hundred day moving average price of $47.81. IonQ, Inc. has a 1-year low of $17.88 and a 1-year high of $84.64.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The firm had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The firm’s quarterly revenue was up 221.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. On average, research analysts predict that IonQ, Inc. will post -0.86 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on IONQ shares. Benchmark boosted their price objective on IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Rosenblatt Securities boosted their price target on shares of IonQ from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Morgan Stanley increased their price objective on shares of IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. B. Riley raised their price objective on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Cantor Fitzgerald upped their target price on shares of IonQ from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.11.

Institutional Trading of IonQ

Several hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. grew its stake in IonQ by 28.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock valued at $40,000 after acquiring an additional 223 shares during the period. Hilltop National Bank lifted its holdings in shares of IonQ by 112.5% during the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after purchasing an additional 225 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of IonQ by 4.3% during the 3rd quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock valued at $349,000 after purchasing an additional 235 shares in the last quarter. Lauer Wealth LLC grew its position in shares of IonQ by 5.5% in the 3rd quarter. Lauer Wealth LLC now owns 4,852 shares of the company’s stock valued at $298,000 after purchasing an additional 255 shares during the period. Finally, GAMMA Investing LLC increased its stake in IonQ by 11.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,480 shares of the company’s stock worth $153,000 after purchasing an additional 261 shares in the last quarter. 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.