IonQ (NYSE:IONQ) Shares Down 0% – Should You Sell?

IonQ, Inc. (NYSE:IONQ)’s share price was down 0% during mid-day trading on Thursday . The company traded as low as $24.62 and last traded at $26.36. Approximately 7,308,295 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 15,558,934 shares. The stock had previously closed at $26.37.

Wall Street Analysts Forecast Growth

IONQ has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of IonQ in a research report on Monday, March 31st. DA Davidson upgraded shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Craig Hallum increased their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group increased their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $44.80.

IonQ Trading Up 0.6 %

The stock has a market cap of $5.80 billion, a PE ratio of -32.14 and a beta of 2.50. The firm has a fifty day simple moving average of $27.29 and a two-hundred day simple moving average of $28.22.

Insider Buying and Selling at IonQ

In related news, insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the transaction, the insider now owns 414,363 shares in the company, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the business’s stock in a transaction dated 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 sale, the executive now directly owns 592,615 shares of the company’s stock, valued at approximately $12,563,438. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,033,166 shares of company stock worth $38,059,593 over the last three months. 11.60% of the stock is owned by insiders.

Institutional Investors Weigh In On IonQ

A number of large investors have recently added to or reduced their stakes in IONQ. JPMorgan Chase & Co. lifted its stake in IonQ by 1,310.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock worth $103,095,000 after acquiring an additional 2,293,231 shares during the period. Chevy Chase Trust Holdings LLC purchased a new stake in shares of IonQ in the 4th quarter worth about $32,060,000. Ameriprise Financial Inc. bought a new stake in shares of IonQ during the 4th quarter valued at about $29,519,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of IonQ during the fourth quarter valued at about $29,513,000. Finally, Invesco Ltd. raised its stake in IonQ by 439.3% in the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company’s stock worth $35,800,000 after buying an additional 698,146 shares in the last quarter. 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.