IonQ (NYSE:IONQ) Stock Price Down 1.2% – What’s Next?

IonQ, Inc. (NYSE:IONQ)’s stock price was down 1.2% during mid-day trading on Thursday . The company traded as low as $36.13 and last traded at $38.92. Approximately 22,171,608 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 49,164,305 shares. The stock had previously closed at $39.39.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IONQ. Needham & Company LLC lifted their target price on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Craig Hallum boosted their price objective on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Benchmark boosted their price target on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. DA Davidson assumed coverage on shares of IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 target price on the stock. Finally, The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

IonQ Price Performance

The business has a 50 day moving average price of $34.67 and a two-hundred day moving average price of $18.09. The stock has a market cap of $8.62 billion, a PE ratio of -49.06 and a beta of 2.43.

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

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction dated Wednesday, December 11th. The stock was 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 in the company, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 22,875 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.75, for a total value of $406,031.25. Following the completion of the transaction, the executive now directly owns 592,658 shares of the company’s stock, valued at approximately $10,519,679.50. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,473 shares of company stock worth $2,065,388. 11.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IONQ. City State Bank bought a new stake in IonQ in the 4th quarter worth approximately $36,000. Versant Capital Management Inc boosted its stake in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after buying an additional 890 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of IonQ in the fourth quarter worth $42,000. GAMMA Investing LLC increased its position in IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after acquiring an additional 480 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in IonQ during the fourth quarter valued at $215,000. 41.42% of the stock is owned by hedge funds and other 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.