IonQ, Inc. (NYSE:IONQ - Get Free Report) shares saw strong trading volume on Friday after Craig Hallum raised their price target on the stock from $15.00 to $22.00. Craig Hallum currently has a buy rating on the stock. 10,336,749 shares traded hands during mid-day trading, an increase of 38% from the previous session's volume of 7,505,790 shares.The stock last traded at $24.32 and had previously closed at $22.11.
Other equities research analysts have also issued research reports about the stock. Needham & Company LLC increased their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday. Benchmark increased their price target on shares of IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday. Finally, The Goldman Sachs Group dropped their price objective on shares of IonQ from $11.50 to $8.00 and set a "neutral" rating for the company in a research report on Friday, August 9th.
View Our Latest Report on IONQ
Insider Buying and Selling
In other IonQ news, CRO Rima Alameddine sold 9,875 shares of IonQ stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $11.72, for a total transaction of $115,735.00. Following the completion of the sale, the executive now owns 638,908 shares of the company's stock, valued at approximately $7,488,001.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 66,000 shares of company stock valued at $972,331 over the last ninety days. Insiders own 11.60% of the company's stock.
Hedge Funds Weigh In On IonQ
Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its stake in IonQ by 283.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 112,175 shares of the company's stock worth $1,121,000 after acquiring an additional 82,891 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of IonQ by 1,598.7% in the 1st quarter. SG Americas Securities LLC now owns 2,084,625 shares of the company's stock valued at $20,825,000 after buying an additional 1,961,909 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of IonQ by 4.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 36,495 shares of the company's stock valued at $365,000 after buying an additional 1,400 shares during the period. Swiss National Bank increased its position in shares of IonQ by 14.8% in the 1st quarter. Swiss National Bank now owns 343,600 shares of the company's stock valued at $3,433,000 after buying an additional 44,200 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in IonQ during the 1st quarter worth $192,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.
IonQ Stock Up 12.2 %
The company has a fifty day simple moving average of $10.78 and a two-hundred day simple moving average of $8.89. The stock has a market capitalization of $5.31 billion, a P/E ratio of -31.38 and a beta of 1.89.
IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The business had revenue of $12.40 million for the quarter, compared to the consensus estimate of $10.56 million. During the same quarter last year, the firm earned ($0.22) EPS. The company's revenue for the quarter was up 102.1% on a year-over-year basis. As a group, equities analysts forecast that IonQ, Inc. will post -0.84 earnings per share for the current year.
About IonQ
(
Get Free Report)
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.
See Also
Before you consider IonQ, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IonQ wasn't on the list.
While IonQ currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
