IonQ (NYSE:IONQ) Shares Down 1% - Time to Sell?

IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price was down 1% on Wednesday . The stock traded as low as $25.02 and last traded at $25.29. Approximately 18,077,314 shares changed hands during trading, an increase of 22% from the average daily volume of 14,767,807 shares. The stock had previously closed at $25.55.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IONQ. Benchmark decreased their price target on IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. DA Davidson upgraded shares of IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, Craig Hallum boosted their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, December 20th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $44.80.

IonQ Trading Down 3.1 %

The firm has a market capitalization of $5.11 billion, a P/E ratio of -28.30 and a beta of 2.50. The business's fifty day moving average is $31.35 and its 200 day moving average is $26.89.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the transaction, the executive now directly owns 592,615 shares in the company, valued at $12,563,438. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas G. Kramer sold 11,712 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $217,491.84. Following the sale, the chief financial officer now owns 944,510 shares in the company, valued at $17,539,550.70. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,033,166 shares of company stock worth $38,059,593. Insiders own 11.60% of the company's stock.

Institutional Trading of IonQ

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of IonQ by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company's stock valued at $892,797,000 after acquiring an additional 125,144 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 purchasing an additional 45,942 shares during the last quarter. State Street Corp grew its stake 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 purchasing an additional 75,596 shares in the last quarter. JPMorgan Chase & Co. increased its position in IonQ by 1,310.9% in the 4th 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 last quarter. Finally, Northern Trust Corp raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

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.