IonQ (NYSE:IONQ) Trading Down 3% - What's Next?

IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price fell 3% on Monday . The company traded as low as $37.04 and last traded at $37.47. 8,150,097 shares were traded during trading, a decline of 71% from the average session volume of 27,816,476 shares. The stock had previously closed at $38.65.

Analysts Set New Price Targets

IONQ has been the subject of a number of research analyst reports. Benchmark upped their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Needham & Company LLC increased their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, DA Davidson upgraded shares of IonQ to a "strong-buy" rating in a report on Thursday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $33.00.

IonQ Trading Down 6.0 %

The firm has a market cap of $6.87 billion, a PE ratio of -39.18 and a beta of 2.40. The company's 50-day moving average is $39.93 and its 200 day moving average is $23.85.

Insider Activity

In other news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now owns 571,321 shares of the company's stock, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 transaction of $290,661.60. Following the transaction, the chief financial officer now directly owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock worth $1,314,652 in the last 90 days. Company insiders own 11.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. PDS Planning Inc raised its holdings in IonQ by 2.6% in the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company's stock valued at $494,000 after acquiring an additional 300 shares in the last quarter. Mariner LLC raised its position in IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after purchasing an additional 350 shares during the last quarter. Allworth Financial LP grew its holdings in IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC raised its position in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock worth $47,000 after purchasing an additional 480 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after purchasing an additional 501 shares during the period. 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.