IonQ, Inc. (NYSE:IONQ) CTO Jungsang Kim Sells 4,417 Shares

Posted by Defense World Staff on Jun 6th, 2023

IonQ, Inc. (NYSE:IONQ – Get Rating) CTO Jungsang Kim sold 4,417 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $10.52, for a total value of $46,466.84. Following the sale, the chief technology officer now directly owns 6,583,761 shares of the company’s stock, valued at $69,261,165.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

IonQ Trading Up 6.6 %

Shares of IONQ stock opened at $9.83 on Tuesday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -27.31 and a beta of 1.87. The stock has a 50 day simple moving average of $7.27 and a 200-day simple moving average of $5.47. IonQ, Inc. has a 12-month low of $3.04 and a 12-month high of $11.65.

IonQ (NYSE:IONQ – Get Rating) last released its quarterly earnings results on Thursday, March 30th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $3.81 million during the quarter. IonQ had a negative return on equity of 15.32% and a negative net margin of 531.99%. On average, equities analysts forecast that IonQ, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on IONQ shares. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of IonQ in a research note on Friday, March 31st. Benchmark reissued a “buy” rating and set a $8.00 target price on shares of IonQ in a research note on Friday, March 31st. Finally, Morgan Stanley started coverage on IonQ in a research note on Wednesday, April 26th. They set an “equal weight” rating and a $7.00 target price for the company.

Institutional Investors Weigh In On IonQ

A number of institutional investors and hedge funds have recently modified their holdings of IONQ. Quantbot Technologies LP acquired a new stake in shares of IonQ in the 2nd quarter worth approximately $28,000. Commonwealth Equity Services LLC acquired a new stake in shares of IonQ in the 4th quarter worth approximately $34,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of IonQ in the 4th quarter worth approximately $37,000. Redwood Wealth Management Group LLC acquired a new stake in shares of IonQ in the 4th quarter worth approximately $38,000. Finally, Bailard Inc. acquired a new stake in IonQ during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 46.18% of the company’s stock.

IonQ Company Profile

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IonQ, Inc engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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.