IonQ (NYSE:IONQ) Shares Down 1.5% - What's Next?

IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price fell 1.5% during mid-day trading on Thursday . The company traded as low as $41.38 and last traded at $41.68. 5,448,202 shares were traded during trading, a decline of 83% from the average session volume of 32,528,873 shares. The stock had previously closed at $42.32.

Wall Street Analyst Weigh In

Several research firms have recently commented on IONQ. The Goldman Sachs Group lifted 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. DA Davidson began coverage on IonQ in a research report on Thursday, December 19th. They set a "buy" rating and a $50.00 price target for the company. Needham & Company LLC increased their price objective on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Benchmark raised their price objective on IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, IonQ has an average rating of "Moderate Buy" and an average price target of $33.00.

IonQ Trading Down 1.8 %

The firm has a 50-day simple moving average of $39.28 and a two-hundred day simple moving average of $22.13. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of -50.06 and a beta of 2.40.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate 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 company had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. During the same period last year, the business earned ($0.22) earnings per share. The firm's revenue was up 102.1% on a year-over-year basis. Equities research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Transactions at IonQ

In related news, CFO Thomas G. Kramer sold 9,780 shares of the company's 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 transaction, the chief financial officer now owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock valued at $1,314,652 in the last 90 days. 11.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IonQ

A number of large investors have recently added to or reduced their stakes in IONQ. Charles Schwab Investment Management Inc. raised its position in shares of IonQ by 9.2% during 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 during the last quarter. Carnegie Investment Counsel purchased a new stake in IonQ during the 3rd quarter worth approximately $5,036,000. Yong Rong HK Asset Management Ltd acquired a new position in shares of IonQ during the third quarter valued at approximately $3,749,000. Rockefeller Capital Management L.P. lifted its position in shares of IonQ by 34.2% in the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company's stock valued at $3,825,000 after acquiring an additional 111,435 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of IonQ in the third quarter worth approximately $1,631,000. 41.42% of the stock is currently 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.