IonQ (NYSE:IONQ) Shares Gap Down - What's Next?

IonQ, Inc. (NYSE:IONQ - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $37.46, but opened at $36.00. IonQ shares last traded at $34.71, with a volume of 5,885,207 shares trading hands.

Analyst Ratings Changes

IONQ has been the subject of several research analyst reports. DA Davidson raised IonQ to a "strong-buy" rating in a research note on Thursday. Needham & Company LLC raised their price target on IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research report 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. The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Finally, Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $33.00.

IonQ Price Performance

The firm has a market cap of $6.87 billion, a PE ratio of -39.18 and a beta of 2.40. The stock has a 50-day moving average price of $39.93 and a 200 day moving average price of $23.85.

Insider Activity

In other IonQ news, CEO Peter Hume Chapman sold 13,106 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 transaction of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ 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 sale, the chief financial officer now directly owns 926,114 shares in the company, valued at approximately $27,524,108.08. The trade was a 1.04 % 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 quarter. Company insiders own 11.60% of the company's stock.

Institutional Trading of IonQ

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in IonQ in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after buying an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. bought a new stake in IonQ in the fourth quarter valued at about $27,000. TD Waterhouse Canada Inc. bought a new stake in IonQ in the fourth quarter valued at about $33,000. Finally, Golden State Wealth Management LLC bought a new stake in IonQ in the fourth quarter valued at about $34,000. 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.