IonQ, Inc. (NYSE:IONQ) Short Interest Update

IonQ, Inc. (NYSE:IONQ - Get Free Report) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 23,650,000 shares, a decline of 13.1% from the January 15th total of 27,230,000 shares. Currently, 12.6% of the company's shares are sold short. Based on an average daily trading volume, of 30,920,000 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IONQ. Needham & Company LLC lifted their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Benchmark boosted their target price on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. DA Davidson initiated coverage on IonQ in a research note on Thursday, December 19th. They set a "buy" rating and a $50.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

IonQ Trading Up 0.6 %

Shares of NYSE IONQ traded up $0.20 during midday trading on Wednesday, reaching $34.14. The company's stock had a trading volume of 20,482,478 shares, compared to its average volume of 28,323,260. IonQ has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The stock has a 50 day simple moving average of $39.86 and a 200-day simple moving average of $23.78. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of -42.14 and a beta of 2.40.

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the transaction, the chief financial officer now owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now owns 571,321 shares of the company's stock, valued at $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock valued at $1,314,652 over the last ninety days. Insiders own 11.60% of the company's stock.

Institutional Investors Weigh In On IonQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONQ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in IonQ by 29.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 362,603 shares of the company's stock valued at $15,146,000 after buying an additional 82,499 shares during the period. Voloridge Investment Management LLC acquired a new stake in IonQ during the fourth quarter worth approximately $7,081,000. Virtus Fund Advisers LLC acquired a new stake in shares of IonQ during the 4th quarter worth $42,000. Virtus Investment Advisers Inc. acquired a new position in shares of IonQ in the 4th quarter valued at approximately $209,000. Finally, Visionary Wealth Advisors acquired a new stake in shares of IonQ during the 4th quarter worth approximately $567,000. 41.42% of the stock is owned by institutional investors.

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.