IonQ (NYSE:IONQ) Shares Up 0.1% – What’s Next?

IonQ, Inc. (NYSE:IONQ)’s stock price was up 0.1% on Monday . The company traded as high as $39.38 and last traded at $39.53. Approximately 6,614,188 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 35,000,855 shares. The stock had previously closed at $39.49.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Needham & Company LLC upped their target price on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. DA Davidson initiated coverage on shares of IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 target price for the company. Benchmark lifted their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Craig Hallum lifted 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.00.

IonQ Price Performance

The firm has a market capitalization of $9.16 billion, a P/E ratio of -52.24 and a beta of 2.41. The stock’s 50-day simple moving average is $38.81 and its two-hundred day simple moving average is $21.53.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The business had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ’s revenue was up 102.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. On average, analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at IonQ

In other news, CEO Peter Hume Chapman sold 13,106 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at $12,319,011.99. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock valued at $1,314,652 in the last three months. 11.60% of the stock is currently owned by corporate insiders.

Institutional Trading of IonQ

Several hedge funds and other institutional investors have recently bought and sold shares of IONQ. Allworth Financial LP increased its stake in IonQ by 15.2% in the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock worth $116,000 after purchasing an additional 363 shares during the period. GAMMA Investing LLC increased its stake in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock worth $47,000 after buying an additional 480 shares during the period. Smartleaf Asset Management LLC lifted its holdings in 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 buying an additional 501 shares during the period. Pathway Financial Advisers LLC purchased a new position in IonQ in the fourth quarter valued at about $26,000. Finally, Spire Wealth Management raised its stake in shares of IonQ by 406.3% during the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock worth $40,000 after acquiring an additional 772 shares in the last quarter. Hedge funds and other institutional investors 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.