IonQ (NYSE:IONQ) Stock Price Down 4.1% - What's Next?

IonQ, Inc. (NYSE:IONQ - Get Free Report) traded down 4.1% on Thursday . The stock traded as low as $20.61 and last traded at $21.71. 7,109,359 shares changed hands during trading, a decline of 49% from the average session volume of 13,870,003 shares. The stock had previously closed at $22.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. DA Davidson upgraded IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Benchmark dropped their price target on IonQ from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $44.80.

IonQ Trading Up 1.0 %

The business has a 50 day moving average of $36.29 and a 200-day moving average of $25.51. The stock has a market cap of $4.48 billion, a PE ratio of -25.55 and a beta of 2.50.

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Insider Buying and Selling at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 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 $389,641.38. Following the completion of the transaction, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is currently owned by insiders.

Institutional Trading of IonQ

Institutional investors have recently modified their holdings of the business. Pathway Financial Advisers LLC purchased a new stake in shares of IonQ in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its stake in shares of 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 in the last quarter. Measured Risk Portfolios Inc. purchased a new stake in shares of IonQ in the fourth quarter valued at approximately $27,000. TD Waterhouse Canada Inc. purchased a new stake in shares of IonQ in the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of IonQ in the fourth quarter valued at approximately $34,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

About IonQ

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.