IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $12.30, but opened at $11.71. IonQ shares last traded at $12.32, with a volume of 3,801,652 shares trading hands.
Analysts Set New Price Targets
A number of research firms recently weighed in on IONQ. Craig Hallum lowered their price objective on shares of IonQ from $21.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of IonQ in a report on Wednesday, October 2nd. Benchmark lowered their target price on IonQ from $16.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 12th. Finally, The Goldman Sachs Group dropped their target price on IonQ from $11.50 to $8.00 and set a "neutral" rating for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $12.00.
Read Our Latest Stock Analysis on IONQ
IonQ Price Performance
The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -14.73 and a beta of 2.05. The firm has a 50 day moving average price of $8.06 and a 200-day moving average price of $8.06.
IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The business had revenue of $11.38 million during the quarter, compared to analysts' expectations of $8.66 million. During the same quarter last year, the business posted ($0.16) EPS. The business's quarterly revenue was up 106.4% compared to the same quarter last year. Equities research analysts predict that IonQ, Inc. will post -0.84 earnings per share for the current year.
Insider Buying and Selling at IonQ
In other IonQ news, CRO Rima Alameddine sold 9,159 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $10.72, for a total value of $98,184.48. Following the sale, the executive now directly owns 648,783 shares in the company, valued at $6,954,953.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.60% of the company's stock.
Institutional Trading of IonQ
Several institutional investors have recently modified their holdings of IONQ. Vanguard Group Inc. increased its position in IonQ by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 17,906,731 shares of the company's stock worth $221,864,000 after buying an additional 193,924 shares during the period. Janney Montgomery Scott LLC raised its position in IonQ by 283.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 112,175 shares of the company's stock valued at $1,121,000 after purchasing an additional 82,891 shares during the last quarter. StoneX Group Inc. acquired a new stake in IonQ during the 1st quarter worth $420,000. Hussman Strategic Advisors Inc. grew its position in IonQ by 126.7% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the company's stock worth $3,566,000 after purchasing an additional 199,500 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of IonQ by 1,598.7% during the first quarter. SG Americas Securities LLC now owns 2,084,625 shares of the company's stock worth $20,825,000 after buying an additional 1,961,909 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company's stock.
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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