IonQ, Inc. (NYSE:IONQ - Get Free Report) rose 3.3% during mid-day trading on Tuesday . The stock traded as high as $24.60 and last traded at $23.51. Approximately 9,856,305 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 15,407,946 shares. The stock had previously closed at $22.75.
Analyst Ratings Changes
IONQ has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. DA Davidson raised IonQ to a "strong-buy" rating in a report on Thursday, February 20th. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, Benchmark restated a "buy" rating and issued a $45.00 price objective on shares of IonQ in a research report on Monday, March 31st. One 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 stock. Based on data from MarketBeat, IonQ has a consensus rating of "Buy" and an average target price of $44.80.
Read Our Latest Analysis on IONQ
IonQ Stock Performance
The stock has a 50-day moving average price of $27.29 and a 200-day moving average price of $28.22. The stock has a market cap of $5.80 billion, a P/E ratio of -32.14 and a beta of 2.50.
Insider Buying and Selling at IonQ
In related news, insider Peter Hume Chapman sold 2,000,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the sale, the insider now owns 414,363 shares in the company, valued at $7,756,875.36. The trade was a 82.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $29,828.40. Following the transaction, the executive now owns 592,615 shares in the company, valued at $12,563,438. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,033,166 shares of company stock worth $38,059,593 over the last three months. 11.60% of the stock is owned by insiders.
Institutional Investors Weigh In On IonQ
Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in IonQ by 1,310.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock worth $103,095,000 after purchasing an additional 2,293,231 shares during the period. Chevy Chase Trust Holdings LLC bought a new stake in IonQ during the 4th quarter valued at $32,060,000. Ameriprise Financial Inc. purchased a new stake in IonQ during the 4th quarter valued at $29,519,000. Arrowstreet Capital Limited Partnership bought a new stake in IonQ in the 4th quarter worth $29,513,000. Finally, Invesco Ltd. increased its position in shares of IonQ by 439.3% in the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock valued at $35,800,000 after acquiring an additional 698,146 shares during the period. Hedge funds and other institutional investors own 41.42% of the company's stock.
IonQ Company Profile
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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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