William F. Scannell Buys 93,066 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) Director William F. Scannell bought 93,066 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the transaction, the director now directly owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. The trade was a 221.69 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

IonQ Stock Performance

Shares of IonQ stock opened at $21.83 on Thursday. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The stock has a 50 day moving average price of $34.91 and a two-hundred day moving average price of $25.64. The stock has a market capitalization of $4.86 billion, a PE ratio of -26.94 and a beta of 2.50.

Analyst Ratings Changes

Several equities analysts have commented on the company. Benchmark dropped their target price on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Craig Hallum increased their target price on 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 increased their target price on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. DA Davidson upgraded IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IonQ has a consensus rating of “Buy” and an average price target of $44.80.

Institutional Investors Weigh In On IonQ

A number of hedge funds have recently added to or reduced their stakes in IONQ. LMR Partners LLP acquired a new stake in IonQ in the third quarter valued at approximately $874,000. Prospera Financial Services Inc grew its stake in IonQ by 196.1% in the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after acquiring an additional 25,502 shares during the period. Moors & Cabot Inc. acquired a new stake in IonQ in the third quarter valued at approximately $92,000. Intech Investment Management LLC acquired a new stake in IonQ in the third quarter valued at approximately $381,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after buying an additional 135,851 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

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.