IonQ (NYSE:IONQ - Get Free Report) had its target price dropped by stock analysts at Benchmark from $50.00 to $45.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price objective would suggest a potential upside of 82.95% from the stock's current price.
Several other research firms have also weighed in on IONQ. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price objective on shares of IonQ in a research note on Thursday. The Goldman Sachs Group upped their price target on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Craig Hallum lifted their price objective on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, DA Davidson raised shares of IonQ to a "strong-buy" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $44.80.
Check Out Our Latest Stock Report on IonQ
IonQ Trading Down 1.3 %
NYSE IONQ traded down $0.31 on Thursday, reaching $24.60. The company's stock had a trading volume of 21,935,384 shares, compared to its average volume of 26,456,176. IonQ has a 52 week low of $6.22 and a 52 week high of $54.74. The firm has a market cap of $5.32 billion, a PE ratio of -30.37 and a beta of 2.40. The business has a 50-day moving average price of $38.59 and a 200 day moving average price of $24.88.
Insiders Place Their Bets
In related news, CRO Rima Alameddine sold 21,337 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is currently owned by corporate insiders.
Institutional Trading of IonQ
A number of hedge funds and other institutional investors have recently modified their holdings of IONQ. Vanguard Group Inc. boosted its position in IonQ by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company's stock valued at $892,797,000 after buying an additional 125,144 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of IonQ by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company's stock valued at $186,593,000 after acquiring an additional 45,942 shares during the period. State Street Corp boosted its holdings in IonQ by 1.8% in the third quarter. State Street Corp now owns 4,260,880 shares of the company's stock valued at $37,240,000 after acquiring an additional 75,596 shares during the last quarter. JPMorgan Chase & Co. increased its position in IonQ by 1,310.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock worth $103,095,000 after purchasing an additional 2,293,231 shares during the period. Finally, Northern Trust Corp raised its holdings in IonQ by 12.6% during the 4th quarter. Northern Trust Corp now owns 1,934,625 shares of the company's stock worth $80,809,000 after purchasing an additional 216,752 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.
About IonQ
(
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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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