IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price rose 2.6% during trading on Wednesday . The company traded as high as $34.29 and last traded at $34.84. Approximately 5,583,339 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 27,843,889 shares. The stock had previously closed at $33.94.
Wall Street Analyst Weigh In
IONQ has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their price objective on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Benchmark boosted their price objective on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. DA Davidson upgraded IonQ to a "strong-buy" rating in a report on Thursday. The Goldman Sachs Group boosted their price objective on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Finally, Craig Hallum boosted 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. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IonQ currently has a consensus rating of "Buy" and an average target price of $33.00.
View Our Latest Report on IonQ
IonQ Trading Down 6.0 %
The stock has a 50-day simple moving average of $39.89 and a two-hundred day simple moving average of $24.03. The firm has a market capitalization of $6.87 billion, a P/E ratio of -39.18 and a beta of 2.40.
Insider Buying and Selling at IonQ
In other IonQ news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares of the company's stock, valued at $16,985,373.33. The trade was a 3.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now directly owns 926,114 shares of the company's stock, 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 in the last ninety days. Corporate insiders own 11.60% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of IonQ by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company's stock worth $892,797,000 after acquiring an additional 125,144 shares in the last quarter. Geode Capital Management LLC raised its position in shares of IonQ by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company's stock worth $186,593,000 after acquiring an additional 45,942 shares in the last quarter. State Street Corp raised its position in shares of IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company's stock worth $37,240,000 after acquiring an additional 75,596 shares in the last quarter. JPMorgan Chase & Co. grew its stake in IonQ by 1,310.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock worth $103,095,000 after buying an additional 2,293,231 shares during the last quarter. Finally, Northern Trust Corp grew its stake 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 buying an additional 216,752 shares during the last quarter. 41.42% of the stock is owned by institutional investors.
IonQ Company Profile
(
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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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