IonQ, Inc. (NYSE:IONQ) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

IonQ, Inc. (NYSE:IONQ) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.50.

Several research firms have recently commented on IONQ. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of IonQ in a report on Thursday, February 29th. The Goldman Sachs Group decreased their price target on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Thursday, February 29th.

Insider Buying and Selling at IonQ

In other news, CTO Jungsang Kim sold 10,220 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the completion of the sale, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at approximately $67,523,398.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Jungsang Kim sold 10,220 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the completion of the sale, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at approximately $67,523,398.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 29,452 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.20, for a total transaction of $300,410.40. Following the completion of the sale, the chief executive officer now directly owns 451,233 shares of the company’s stock, valued at $4,602,576.60. The disclosure for this sale can be found here. Insiders sold 86,556 shares of company stock valued at $882,871 in the last ninety days. Company insiders own 13.00% of the company’s stock.

Institutional Trading of IonQ

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC raised its holdings in shares of IonQ by 28.0% in the 4th quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock worth $56,000 after purchasing an additional 990 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of IonQ by 32.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the company’s stock worth $60,000 after purchasing an additional 1,000 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of IonQ by 4.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,284 shares of the company’s stock worth $363,000 after purchasing an additional 1,282 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of IonQ by 2.2% in the 4th quarter. New York State Common Retirement Fund now owns 66,328 shares of the company’s stock worth $822,000 after purchasing an additional 1,416 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of IonQ by 6.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,736 shares of the company’s stock worth $282,000 after purchasing an additional 1,459 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors.

IonQ Stock Performance

IONQ opened at $7.37 on Friday. IonQ has a 1-year low of $5.29 and a 1-year high of $21.60. The company has a 50-day moving average of $9.74 and a 200-day moving average of $11.47. The company has a market capitalization of $1.53 billion, a P/E ratio of -9.45 and a beta of 2.14.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.03. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. The business had revenue of $6.11 million during the quarter, compared to analyst estimates of $5.70 million. As a group, sell-side analysts expect that IonQ will post -1.24 earnings per share for the current fiscal year.

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.