Shares of IonQ, Inc. (NYSE:IONQ - Get Free Report) rose 1.5% on Thursday . The company traded as high as $23.78 and last traded at $23.65. Approximately 6,399,051 shares were traded during trading, a decline of 56% from the average daily volume of 14,410,908 shares. The stock had previously closed at $23.30.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. 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 upgraded shares of IonQ to a "strong-buy" rating in a research report on Thursday, February 20th. Benchmark dropped their target price on shares of IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $44.80.
Get Our Latest Analysis on IonQ
IonQ Stock Performance
The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of -27.47 and a beta of 2.50. The business's 50-day simple moving average is $32.43 and its 200-day simple moving average is $26.41.
Insider Activity at IonQ
In related news, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were 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 in the company, valued at $12,563,438. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas G. Kramer sold 11,712 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $217,491.84. Following the completion of the transaction, the chief financial officer now directly owns 944,510 shares of the company's stock, valued at $17,539,550.70. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 over the last ninety days. Company insiders own 11.60% of the company's stock.
Institutional Investors Weigh In On IonQ
Several large investors have recently modified their holdings of IONQ. Integrated Advisors Network LLC acquired a new position in shares of IonQ in the fourth quarter valued at approximately $316,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in IonQ by 29.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 362,603 shares of the company's stock worth $15,146,000 after purchasing an additional 82,499 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of IonQ in the fourth quarter valued at about $7,081,000. Virtus Fund Advisers LLC bought a new stake in IonQ in the 4th quarter valued at approximately $42,000. Finally, Virtus Investment Advisers Inc. bought a new stake in shares of IonQ in the fourth quarter worth $209,000. 41.42% of the stock is currently owned by 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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