IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price was up 1% during mid-day trading on Monday . The stock traded as high as $13.65 and last traded at $13.43. Approximately 5,214,482 shares changed hands during trading, a decline of 15% from the average daily volume of 6,169,102 shares. The stock had previously closed at $13.30.
Analysts Set New Price Targets
Several equities research analysts have issued reports on IONQ shares. The Goldman Sachs Group decreased their price target on shares of IonQ from $11.50 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, August 9th. Craig Hallum decreased their price target on shares of IonQ from $21.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Benchmark decreased their target price on shares of IonQ from $16.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $13.00 target price on shares of IonQ in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, IonQ currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.
View Our Latest Stock Analysis on IONQ
IonQ Price Performance
The company's 50-day moving average is $8.45 and its 200-day moving average is $8.13. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -17.80 and a beta of 2.05.
IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.04. The firm had revenue of $11.38 million for the quarter, compared to analysts' expectations of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. IonQ's revenue was up 106.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) earnings per share. Sell-side analysts anticipate 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 IonQ stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $10.72, for a total transaction of $98,184.48. Following the transaction, the executive now directly owns 648,783 shares of the company's stock, valued at $6,954,953.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 31,125 shares of company stock valued at $377,660 over the last ninety days. Corporate insiders own 11.60% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in IONQ. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 193,924 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of IonQ by 283.1% during the first quarter. Janney Montgomery Scott LLC now owns 112,175 shares of the company's stock worth $1,121,000 after purchasing an additional 82,891 shares in the last quarter. StoneX Group Inc. acquired a new stake in IonQ in the first quarter valued at $420,000. Hussman Strategic Advisors Inc. raised its holdings in IonQ by 126.7% in the first quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the company's stock valued at $3,566,000 after acquiring an additional 199,500 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in IonQ by 1,598.7% in the first quarter. SG Americas Securities LLC now owns 2,084,625 shares of the company's stock valued at $20,825,000 after acquiring an additional 1,961,909 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.
IonQ Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider IonQ, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IonQ wasn't on the list.
While IonQ currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
