IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price traded down 39% on Thursday . The company traded as low as $25.92 and last traded at $30.27. 127,081,346 shares were traded during trading, an increase of 179% from the average session volume of 45,574,754 shares. The stock had previously closed at $49.59.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on IONQ shares. Needham & Company LLC lifted their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Craig Hallum upped their price objective on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Finally, DA Davidson started coverage on IonQ in a research report on Thursday, December 19th. They issued a "buy" rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $28.60.
Check Out Our Latest Stock Report on IonQ
IonQ Stock Performance
The stock has a fifty day moving average of $33.76 and a 200 day moving average of $17.45. The company has a market capitalization of $6.55 billion, a P/E ratio of -37.37 and a beta of 2.43.
IonQ (NYSE:IONQ - Get Free Report) last released its earnings results 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 net margin of 457.85% and a negative return on equity of 36.82%. The firm had revenue of $12.40 million for the quarter, compared to analysts' expectations of $10.56 million. During the same quarter last year, the firm posted ($0.22) EPS. The firm's quarterly revenue was up 102.1% compared to the same quarter last year. Research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.
Insider Activity
In other news, CRO Rima Alameddine sold 22,875 shares of the firm's stock in a transaction that occurred on 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 sale, the executive now directly owns 592,658 shares of the company's stock, valued at $10,519,679.50. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the transaction, the chief executive officer now owns 414,363 shares of the company's stock, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,223 shares of company stock worth $2,286,983 over the last 90 days. Corporate insiders own 11.60% of the company's stock.
Institutional Trading of IonQ
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc raised its holdings 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 worth $40,000 after buying an additional 890 shares during the period. Quest Partners LLC increased its stake in IonQ by 4,824.2% in the second quarter. Quest Partners LLC now owns 6,500 shares of the company's stock worth $46,000 after purchasing an additional 6,368 shares during the period. GAMMA Investing LLC lifted its position in shares of IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock worth $47,000 after purchasing an additional 480 shares during the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of IonQ during the second quarter worth $67,000. Finally, nVerses Capital LLC purchased a new stake in shares of IonQ during the third quarter valued at $72,000. Hedge funds and other institutional investors own 41.42% of the company's stock.
IonQ Company Profile
(
Get Free Report)
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.
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