IonQ, Inc. (NYSE:IONQ – Get Free Report) shares fell 7.1% on Tuesday . The company traded as low as $9.24 and last traded at $9.37. 6,069,084 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 6,741,399 shares. The stock had previously closed at $10.09.
Analysts Set New Price Targets
IONQ has been the topic of several recent research reports. The Goldman Sachs Group reduced their target price on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of IonQ in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, IonQ has an average rating of “Moderate Buy” and an average target price of $16.50.
IonQ Trading Down 8.5 %
The business’s 50-day simple moving average is $11.28 and its two-hundred day simple moving average is $13.04. The company has a market capitalization of $1.89 billion, a PE ratio of -12.10 and a beta of 2.16.
IonQ (NYSE:IONQ – Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. The business had revenue of $6.11 million for the quarter, compared to analyst estimates of $5.70 million. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. On average, analysts forecast that IonQ, Inc. will post -1.24 EPS for the current year.
Insider Buying and Selling
In related news, CRO Rima Alameddine sold 73,447 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $13.21, for a total transaction of $970,234.87. Following the sale, the executive now owns 646,553 shares in the company, valued at $8,540,965.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other IonQ news, CRO Rima Alameddine sold 73,447 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $13.21, for a total value of $970,234.87. Following the completion of the transaction, the executive now owns 646,553 shares in the company, valued at approximately $8,540,965.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Peter Hume Chapman sold 56,152 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $13.21, for a total transaction of $741,767.92. Following the completion of the transaction, the chief executive officer now owns 439,748 shares of the company’s stock, valued at approximately $5,809,071.08. The disclosure for this sale can be found here. Insiders have sold a total of 182,336 shares of company stock worth $2,408,659 over the last quarter. 13.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in IonQ by 65.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 628,542 shares of the company’s stock worth $7,788,000 after buying an additional 248,245 shares in the last quarter. Virtu Financial LLC bought a new stake in IonQ during the fourth quarter worth approximately $554,000. Prospect Financial Services LLC bought a new stake in IonQ during the fourth quarter worth approximately $124,000. Price T Rowe Associates Inc. MD boosted its holdings in IonQ by 747.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 729,967 shares of the company’s stock worth $9,046,000 after buying an additional 643,877 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in IonQ by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 17,906,731 shares of the company’s stock worth $221,864,000 after buying an additional 193,924 shares in the last quarter. 38.88% of the stock is currently owned by institutional investors.
IonQ Company Profile
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.