IonQ, Inc. (NYSE:IONQ) Director William F. Scannell Acquires 93,066 Shares

IonQ, Inc. (NYSE:IONQ) Director William F. Scannell purchased 93,066 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

IonQ Stock Up 16.7 %

Shares of NYSE:IONQ traded up $3.13 during trading on Wednesday, hitting $21.83. The stock had a trading volume of 26,933,124 shares, compared to its average volume of 14,027,465. The company has a market capitalization of $4.86 billion, a PE ratio of -26.94 and a beta of 2.50. The firm’s fifty day moving average is $34.91 and its 200 day moving average is $25.64. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Craig Hallum lifted their price objective 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 reissued a “buy” rating and set a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. 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 research note on Friday, January 10th. Finally, Benchmark reduced their price objective on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $44.80.

Hedge Funds Weigh In On IonQ

Institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in shares of IonQ in the 3rd quarter worth about $874,000. Prospera Financial Services Inc grew its holdings in IonQ by 196.1% in the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock worth $337,000 after purchasing an additional 25,502 shares during the period. Moors & Cabot Inc. purchased a new position in shares of IonQ during the third quarter valued at approximately $92,000. Intech Investment Management LLC purchased a new position in shares of IonQ during the third quarter valued at approximately $381,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of IonQ by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after purchasing an additional 135,851 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.