IonQ (NYSE:IONQ) Stock Price Down 2.1% – What’s Next?

IonQ, Inc. (NYSE:IONQ)’s share price traded down 2.1% on Tuesday . The stock traded as low as $25.13 and last traded at $25.57. 6,594,647 shares traded hands during trading, a decline of 55% from the average session volume of 14,730,073 shares. The stock had previously closed at $26.12.

Analyst Ratings Changes

A number of analysts recently weighed in on IONQ shares. Craig Hallum upped their target price on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Benchmark dropped their target price on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group raised their price target on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, IonQ presently has a consensus rating of “Buy” and a consensus target price of $44.80.

IonQ Stock Performance

The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -29.70 and a beta of 2.50. The company has a 50-day moving average price of $32.03 and a 200-day moving average price of $26.80.

Insider Buying and Selling at IonQ

In other news, CRO Rima Alameddine sold 1,407 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the transaction, the executive now owns 592,615 shares of the company’s stock, valued at $12,563,438. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas G. Kramer sold 11,712 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the sale, the chief financial officer now directly owns 944,510 shares in the company, valued at $17,539,550.70. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. Corporate insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IONQ. PDS Planning Inc raised its stake in shares of IonQ by 2.6% in the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company’s stock valued at $494,000 after purchasing an additional 300 shares during the period. Mariner LLC boosted its stake in shares of IonQ by 0.6% during the 4th quarter. Mariner LLC now owns 54,479 shares of the company’s stock worth $2,276,000 after acquiring an additional 350 shares during the period. Allworth Financial LP increased its holdings in shares of IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock worth $116,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC raised its stake in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after acquiring an additional 480 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after purchasing an additional 501 shares during the last quarter. 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.