Traders Purchase Large Volume of IonQ Call Options (NYSE:IONQ)

IonQ, Inc. (NYSE:IONQ) was the recipient of unusually large options trading on Thursday. Traders acquired 16,494 call options on the stock. This represents an increase of approximately 44% compared to the typical volume of 11,419 call options.

IonQ Price Performance

Shares of IONQ stock opened at $9.99 on Friday. The business’s fifty day moving average price is $10.44 and its 200 day moving average price is $12.25. IonQ has a 1-year low of $4.80 and a 1-year high of $21.60. The firm has a market capitalization of $2.08 billion, a PE ratio of -12.81 and a beta of 2.16.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.03. The company had revenue of $6.11 million for the quarter, compared to analyst estimates of $5.70 million. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. Equities research analysts expect that IonQ will post -1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 27,212 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $277,562.40. Following the completion of the sale, the executive now owns 697,647 shares in the company, valued at $7,115,999.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other IonQ news, CEO Peter Hume Chapman sold 29,452 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $300,410.40. Following the completion of the sale, the chief executive officer now owns 451,233 shares in the company, valued at $4,602,576.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Rima Alameddine sold 27,212 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $277,562.40. Following the completion of the sale, the executive now owns 697,647 shares of the company’s stock, valued at approximately $7,115,999.40. The disclosure for this sale can be found here. Insiders sold a total of 86,556 shares of company stock worth $882,871 over the last 90 days. 13.00% of the stock is owned by insiders.

Institutional Trading of IonQ

Large investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in IonQ in the second quarter valued at $28,000. Huntington National Bank grew its holdings in IonQ by 250,000.0% in the second quarter. Huntington National Bank now owns 2,501 shares of the company’s stock valued at $34,000 after purchasing an additional 2,500 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in IonQ in the fourth quarter valued at $37,000. C M Bidwell & Associates Ltd. acquired a new stake in IonQ in the second quarter valued at $38,000. Finally, Harbour Investments Inc. boosted its stake in shares of IonQ by 193.2% during the second quarter. Harbour Investments Inc. now owns 2,932 shares of the company’s stock valued at $40,000 after acquiring an additional 1,932 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. The Goldman Sachs Group cut their price target on IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of IonQ in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.