IonQ (NYSE:IONQ) Trading 5.1% Higher – What’s Next?

IonQ, Inc. (NYSE:IONQ)’s stock price was up 5.1% during trading on Friday . The stock traded as high as $25.87 and last traded at $25.81. Approximately 10,111,365 shares were traded during trading, a decline of 36% from the average daily volume of 15,798,218 shares. The stock had previously closed at $24.57.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IONQ shares. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of IonQ in a report on Thursday, February 27th. Craig Hallum increased their price objective 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. DA Davidson cut their target price on shares of IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group raised their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Benchmark reissued a “buy” rating and set a $45.00 price target on shares of IonQ in a research report on Monday, March 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, IonQ has an average rating of “Moderate Buy” and an average price target of $41.80.

IonQ Stock Up 5.1 %

The business’s fifty day moving average price is $26.00 and its 200 day moving average price is $28.54. The firm has a market capitalization of $5.75 billion, a PE ratio of -31.87 and a beta of 2.50.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the transaction, the executive now directly owns 592,615 shares in the company, valued at approximately $12,563,438. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William F. Scannell purchased 93,066 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the acquisition, the director now directly owns 135,047 shares in the company, valued at $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is owned by insiders.

Institutional Trading of IonQ

A number of institutional investors have recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new position in IonQ during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after acquiring an additional 501 shares during the period. Measured Risk Portfolios Inc. acquired a new position in shares of IonQ during the 4th quarter valued at $27,000. TD Waterhouse Canada Inc. acquired a new position in shares of IonQ during the 4th quarter valued at $33,000. Finally, Future Financial Wealth Managment LLC boosted its position in IonQ by 50.0% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the period. 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.