IonQ (NYSE:IONQ) Trading Up 0% – What’s Next?

IonQ, Inc. (NYSE:IONQ) shot up 0% on Friday . The company traded as high as $25.62 and last traded at $24.91. 10,312,982 shares traded hands during trading, a decline of 61% from the average session volume of 26,144,623 shares. The stock had previously closed at $24.91.

Wall Street Analyst Weigh In

IONQ has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday. Craig Hallum lifted 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. The Goldman Sachs Group upped their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Benchmark dropped their target price on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday. Finally, DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $44.80.

IonQ Price Performance

The firm has a market cap of $5.32 billion, a PE ratio of -30.37 and a beta of 2.41. The company’s 50 day moving average price is $38.59 and its 200 day moving average price is $24.88.

Insider Buying and Selling at IonQ

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the sale, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas G. Kramer sold 9,780 shares of the 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 completion of the sale, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. 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 90 days. Company insiders own 11.60% of the company’s stock.

Institutional Trading of IonQ

A number of large investors have recently made changes to their positions in IONQ. Pathway Financial Advisers LLC purchased a new stake in shares of IonQ in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its stake in shares of IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after purchasing an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new position in IonQ in the fourth quarter valued at $27,000. TD Waterhouse Canada Inc. acquired a new stake in IonQ in the fourth quarter valued at $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in IonQ during the 4th quarter worth about $34,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

About IonQ

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.