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

IonQ, Inc. (NYSE:IONQ) CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

IonQ Stock Performance

IonQ stock opened at $33.83 on Friday. The stock has a market cap of $7.32 billion, a PE ratio of -41.77 and a beta of 2.49. The stock has a 50-day moving average of $22.61 and a two-hundred day moving average of $12.88. IonQ, Inc. has a one year low of $6.22 and a one year high of $38.45.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The business’s revenue for the quarter was up 102.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) earnings per share. As a group, sell-side analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On IonQ

Several institutional investors and hedge funds have recently made changes to their positions in IONQ. Quest Partners LLC increased its position in shares of IonQ by 4,824.2% in the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after acquiring an additional 6,368 shares during the period. Redwood Wealth Management Group LLC acquired a new position in shares of IonQ in the second quarter valued at about $67,000. nVerses Capital LLC purchased a new position in shares of IonQ in the third quarter worth about $72,000. Mosley Wealth Management acquired a new stake in shares of IonQ during the second quarter worth about $81,000. Finally, Xponance Inc. purchased a new stake in IonQ in the second quarter valued at approximately $88,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IONQ shares. Craig Hallum raised their price objective on 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 raised their price target on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Benchmark boosted their price objective on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

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.