IonQ, Inc. (NYSE:IONQ - Get Free Report) shares traded up 8.4% during trading on Wednesday . The stock traded as high as $21.20 and last traded at $20.27. 8,496,774 shares changed hands during trading, a decline of 39% from the average session volume of 13,933,165 shares. The stock had previously closed at $18.70.
Analyst Upgrades and Downgrades
IONQ has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. Benchmark dropped their price objective on shares of IonQ from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Craig Hallum raised their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. DA Davidson upgraded IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group increased 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. One investment 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 data from MarketBeat.com, IonQ presently has an average rating of "Buy" and an average price target of $44.80.
Check Out Our Latest Report on IonQ
IonQ Stock Up 17.7 %
The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of -27.17 and a beta of 2.50. The business's 50-day moving average is $35.31 and its two-hundred day moving average is $25.67.
Insider Activity at IonQ
In other news, insider Peter Hume Chapman sold 2,000,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the transaction, the insider now directly owns 414,363 shares of the company's stock, valued at approximately $7,756,875.36. This represents a 82.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Rima Alameddine sold 1,407 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the sale, the executive now owns 592,615 shares of the company's stock, valued at $12,563,438. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. 11.60% of the stock is owned by insiders.
Hedge Funds Weigh In On IonQ
A number of large investors have recently modified their holdings of the business. Pathway Financial Advisers LLC acquired a new position in IonQ during the fourth quarter worth $26,000. Smartleaf Asset Management LLC raised its position in IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after acquiring an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. purchased a new stake in shares of IonQ in the fourth quarter valued at about $27,000. TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ in the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of IonQ during the 4th quarter worth approximately $34,000. 41.42% of the stock is owned by hedge funds and other institutional investors.
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.
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