IonQ (NYSE:IONQ) Shares Down 0.9% - What's Next?

IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price fell 0.9% during mid-day trading on Thursday . The stock traded as low as $37.51 and last traded at $37.65. 5,497,010 shares traded hands during trading, a decline of 81% from the average session volume of 29,254,494 shares. The stock had previously closed at $38.00.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IONQ. DA Davidson began coverage on shares of IonQ in a research report on Thursday, December 19th. They set a "buy" rating and a $50.00 target price for the company. Benchmark boosted their price objective on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their target price on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Finally, Needham & Company LLC boosted their price target on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, IonQ presently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

IonQ Stock Performance

The firm has a market capitalization of $7.32 billion, a PE ratio of -41.76 and a beta of 2.40. The firm's 50 day moving average price is $39.76 and its 200-day moving average price is $23.52.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction 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 sale, the executive now owns 571,321 shares of the company's stock, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the chief financial officer now directly owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by company insiders.

Institutional Trading of IonQ

Institutional investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new position in IonQ in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC raised its holdings in shares of IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new position in shares of IonQ during the fourth quarter valued at approximately $27,000. TD Waterhouse Canada Inc. purchased a new position in shares of IonQ in the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of IonQ in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds 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.