IonQ, Inc. (NYSE:IONQ) CEO Peter Hume Chapman Sells 13,106 Shares

IonQ, Inc. (NYSE:IONQ) CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 414,363 shares in the company, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

IonQ Trading Up 12.9 %

Shares of NYSE:IONQ opened at $33.86 on Friday. The company has a 50 day moving average of $22.61 and a 200-day moving average of $12.85. The firm has a market cap of $7.33 billion, a P/E ratio of -41.80 and a beta of 2.49. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $38.45.

IonQ (NYSE:IONQ) last released its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The firm had revenue of $12.40 million during the quarter, compared to analyst estimates of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business’s revenue for the quarter was up 102.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) earnings per share. Equities research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Craig Hallum lifted their price objective on shares of IonQ from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price objective 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. Finally, 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 report on Thursday, November 7th.

Hedge Funds Weigh In On IonQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in IonQ by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock valued at $348,000 after purchasing an additional 1,731 shares in the last quarter. Verity Asset Management Inc. boosted its stake in IonQ by 12.4% during the 3rd quarter. Verity Asset Management Inc. now owns 33,898 shares of the company’s stock valued at $296,000 after purchasing an additional 3,736 shares in the last quarter. HighTower Advisors LLC boosted its stake in IonQ by 29.3% during the 3rd quarter. HighTower Advisors LLC now owns 18,938 shares of the company’s stock valued at $166,000 after purchasing an additional 4,288 shares in the last quarter. Quest Partners LLC boosted its stake in IonQ by 4,824.2% during the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after purchasing an additional 6,368 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in IonQ by 40.6% during the 2nd quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock valued at $188,000 after purchasing an additional 7,744 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

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.