IonQ (NYSE:IONQ) Shares Down 1.7% - What's Next?

IonQ, Inc. (NYSE:IONQ - Get Free Report) shares fell 1.7% during trading on Thursday . The company traded as low as $32.84 and last traded at $33.56. 6,755,606 shares traded hands during trading, a decline of 76% from the average session volume of 27,658,617 shares. The stock had previously closed at $34.14.

Analyst Ratings Changes

A number of brokerages have commented on IONQ. Craig Hallum upped their price target on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. DA Davidson raised shares of IonQ to a "strong-buy" rating in a research report on Thursday. Benchmark upped their price target on shares of IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research report 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 research report on Friday, January 10th. Finally, Needham & Company LLC upped their price target on shares of IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $33.00.

IonQ Stock Performance

The company has a 50 day moving average price of $39.89 and a 200 day moving average price of $24.03. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -39.18 and a beta of 2.40.

Insider Activity

In related news, CFO Thomas G. Kramer sold 9,780 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the transaction, the chief financial officer now owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the transaction, the executive now directly owns 571,321 shares in the company, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock worth $1,314,652 in the last three months. Company insiders own 11.60% of the company's stock.

Hedge Funds Weigh In On IonQ

Several large investors have recently added to or reduced their stakes in IONQ. Creative Planning lifted its position in IonQ by 47.8% in the 3rd quarter. Creative Planning now owns 24,364 shares of the company's stock valued at $213,000 after acquiring an additional 7,878 shares in the last quarter. Bleakley Financial Group LLC bought a new position in shares of IonQ during the 3rd quarter worth approximately $152,000. Impact Partnership Wealth LLC bought a new position in shares of IonQ during the 3rd quarter worth approximately $89,000. Yong Rong HK Asset Management Ltd bought a new position in shares of IonQ during the 3rd quarter worth approximately $3,749,000. Finally, Ground Swell Capital LLC bought a new position in shares of IonQ during the 3rd quarter worth approximately $110,000. Institutional investors 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.