IonQ (NYSE:IONQ) Stock Price Up 0.5% – What’s Next?

IonQ, Inc. (NYSE:IONQ)’s share price shot up 0.5% on Friday . The company traded as high as $41.60 and last traded at $41.77. 11,822,929 shares traded hands during trading, a decline of 75% from the average session volume of 47,911,668 shares. The stock had previously closed at $41.55.

Analysts Set New Price Targets

IONQ has been the subject of several recent research reports. DA Davidson began coverage on IonQ in a report on Thursday, December 19th. They issued a “buy” rating and a $50.00 price target for the company. The Goldman Sachs Group increased their target price on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. 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 report on Friday, December 20th. Benchmark boosted their target price on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC raised their price target on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

IonQ Stock Performance

The company has a 50 day moving average price of $35.52 and a 200 day moving average price of $18.40. The company has a market capitalization of $8.69 billion, a PE ratio of -49.99 and a beta of 2.43.

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

Insider Activity at IonQ

In other news, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 79,098 shares of company stock valued at $1,909,323 over the last three months. 11.60% of the stock is owned by insiders.

Institutional Investors Weigh In On IonQ

Several large investors have recently added to or reduced their stakes in IONQ. City State Bank bought a new position in shares of IonQ during the fourth quarter worth about $36,000. Versant Capital Management Inc increased its stake in shares of IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of IonQ during the fourth quarter worth approximately $42,000. Quest Partners LLC boosted its position in shares of IonQ by 4,824.2% during the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after buying an additional 6,368 shares during the period. Finally, GAMMA Investing LLC increased its position in IonQ by 73.2% in the 4th 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 period. 41.42% of the stock is owned by institutional investors and hedge funds.

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.