IonQ (NYSE:IONQ) Shares Down 2.5% - What's Next?

IonQ, Inc. (NYSE:IONQ - Get Free Report)'s stock price was down 2.5% on Tuesday . The company traded as low as $40.03 and last traded at $40.05. Approximately 6,378,669 shares changed hands during trading, a decline of 79% from the average daily volume of 30,412,918 shares. The stock had previously closed at $41.07.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IONQ shares. Benchmark upped their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Craig Hallum upped their price target on shares of IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. DA Davidson started coverage on shares of IonQ in a research report on Thursday, December 19th. They set a "buy" rating and a $50.00 price target for the company. Needham & Company LLC upped their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, 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 report on Friday, January 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, IonQ has an average rating of "Moderate Buy" and an average price target of $33.00.

IonQ Trading Down 3.0 %

The stock's 50-day moving average is $39.70 and its 200-day moving average is $22.89. The stock has a market cap of $8.11 billion, a P/E ratio of -46.26 and a beta of 2.40.

Insider Activity at IonQ

In other news, CFO Thomas G. Kramer sold 9,780 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares in the company, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were 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 of the company's stock, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock worth $1,314,652 in the last 90 days. Corporate insiders own 11.60% of the company's stock.

Hedge Funds Weigh In On IonQ

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock valued at $14,107,000 after buying an additional 135,851 shares in the last quarter. Yong Rong HK Asset Management Ltd purchased a new stake in IonQ during the third quarter valued at about $3,749,000. Rockefeller Capital Management L.P. lifted its stake in IonQ by 34.2% during the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company's stock valued at $3,825,000 after buying an additional 111,435 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in IonQ during the third quarter valued at about $1,631,000. Finally, Prospera Financial Services Inc lifted its stake in IonQ by 196.1% during the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock valued at $337,000 after buying an additional 25,502 shares in the last quarter. Institutional investors 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.