Shares of IonQ, Inc. (NYSE:IONQ - Get Free Report) dropped 6.4% during trading on Monday . The stock traded as low as $24.13 and last traded at $24.10. Approximately 3,916,959 shares traded hands during trading, a decline of 84% from the average daily volume of 23,874,047 shares. The stock had previously closed at $25.74.
Analyst Ratings Changes
IONQ has been the subject of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. Benchmark reiterated a "buy" rating and issued a $45.00 price objective on shares of IonQ in a report on Monday, March 31st. DA Davidson reduced their target price on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, IonQ has an average rating of "Moderate Buy" and an average price target of $41.80.
Read Our Latest Research Report on IONQ
IonQ Stock Performance
The stock's 50-day moving average price is $25.22 and its two-hundred day moving average price is $29.01. The stock has a market capitalization of $6.07 billion, a PE ratio of -33.64 and a beta of 2.50.
Insiders Place Their Bets
In other news, 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 value of $29,828.40. Following the sale, the executive now directly owns 592,615 shares of the company's stock, valued at $12,563,438. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the transaction, the insider now directly owns 414,363 shares of the company's stock, valued at approximately $7,756,875.36. This trade represents a 82.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is currently owned by company insiders.
Institutional Trading of IonQ
Institutional investors have recently bought and sold shares of the company. PDS Planning Inc lifted its stake in shares of IonQ by 2.6% in the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after buying an additional 300 shares in the last quarter. Mariner LLC lifted 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 acquiring an additional 350 shares in the last quarter. Allworth Financial LP boosted its stake in IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock valued at $116,000 after purchasing an additional 363 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 in the last quarter. Finally, Future Financial Wealth Managment LLC raised its stake in shares of IonQ by 50.0% in the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after purchasing an additional 500 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.
About IonQ
(
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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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