Stock Traders Buy High Volume of IonQ Call Options (NYSE:IONQ)

IonQ, Inc. (NYSE:IONQ) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 20,801 call options on the stock. This represents an increase of 11% compared to the average volume of 18,819 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Craig Hallum decreased their price target on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group reduced their target price on IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of IonQ in a report on Wednesday, October 2nd. Finally, Benchmark dropped their price objective on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 12th.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 9,875 shares of IonQ stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total transaction of $115,735.00. Following the transaction, the executive now owns 638,908 shares of the company’s stock, valued at $7,488,001.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 66,000 shares of company stock worth $972,331. 11.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IonQ

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC raised its position in IonQ by 4,824.2% in the second 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 during the period. Redwood Wealth Management Group LLC acquired a new position in IonQ in the second quarter valued at $67,000. nVerses Capital LLC acquired a new position in IonQ in the third quarter valued at $72,000. Mosley Wealth Management acquired a new stake in shares of IonQ during the second quarter worth about $81,000. Finally, Xponance Inc. acquired a new stake in shares of IonQ during the second quarter worth about $88,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

Shares of IONQ stock opened at $14.85 on Friday. The firm has a market cap of $3.18 billion, a P/E ratio of -18.80 and a beta of 2.05. IonQ has a fifty-two week low of $6.22 and a fifty-two week high of $18.20. The business’s 50 day moving average price is $10.00 and its 200-day moving average price is $8.62.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The business had revenue of $11.38 million for the quarter, compared to the consensus estimate of $8.66 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The company’s quarterly revenue was up 106.4% compared to the same quarter last year. As a group, equities analysts predict that IonQ will post -0.84 EPS for the current year.

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.