IonQ (NYSE:IONQ) Trading 0.6% Higher - What's Next?

IonQ, Inc. (NYSE:IONQ - Get Free Report) shares traded up 0.6% during trading on Friday . The stock traded as high as $21.29 and last traded at $20.59. 5,088,084 shares changed hands during trading, a decline of 63% from the average session volume of 13,887,361 shares. The stock had previously closed at $20.48.

Analyst Ratings Changes

Several analysts have commented on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 price objective on shares of IonQ in a research note on Thursday, February 27th. Benchmark cut their target price on IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group increased 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. DA Davidson raised IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, Craig Hallum increased their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $44.80.

IonQ Trading Up 1.0 %

The stock has a market capitalization of $4.48 billion, a PE ratio of -25.55 and a beta of 2.50. The firm has a 50 day moving average of $36.29 and a two-hundred day moving average of $25.39.

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Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the transaction, the executive now directly owns 571,321 shares of the company's stock, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm's 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 directly owns 414,363 shares of the company's stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock valued at $1,314,652 in the last ninety days. Corporate insiders own 11.60% of the company's stock.

Institutional Investors Weigh In On IonQ

A number of large investors have recently bought and sold shares of IONQ. Integrated Advisors Network LLC purchased a new stake in shares of IonQ in the fourth quarter valued at $316,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of IonQ by 29.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 362,603 shares of the company's stock valued at $15,146,000 after purchasing an additional 82,499 shares during the period. Voloridge Investment Management LLC purchased a new stake in IonQ during the fourth quarter valued at about $7,081,000. Virtus Fund Advisers LLC purchased a new stake in IonQ during the fourth quarter valued at about $42,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in IonQ during the fourth quarter valued at about $209,000. 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.