IonQ (NYSE:IONQ – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.07, Briefing.com reports. The business had revenue of $7.58 million during the quarter, compared to analysts’ expectations of $7.08 million. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. The business’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) EPS. IonQ updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.
IonQ Price Performance
Shares of NYSE IONQ traded up $0.42 during midday trading on Thursday, reaching $9.20. 6,328,913 shares of the company traded hands, compared to its average volume of 6,541,553. The stock has a 50-day moving average price of $9.04 and a 200 day moving average price of $10.86. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -11.79 and a beta of 2.17. IonQ has a 52 week low of $6.00 and a 52 week high of $21.60.
Insider Activity at IonQ
In other IonQ news, CTO Jungsang Kim sold 10,220 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $104,244.00. Following the completion of the sale, the chief technology officer now directly owns 6,619,941 shares in the company, valued at $67,523,398.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Peter Hume Chapman sold 29,452 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $300,410.40. Following the transaction, the chief executive officer now owns 451,233 shares of the company’s stock, valued at $4,602,576.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jungsang Kim sold 10,220 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $104,244.00. Following the completion of the sale, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at $67,523,398.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,556 shares of company stock worth $882,871. 13.00% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on IonQ
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.
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