IonQ (NYSE:IONQ) Stock Price Down 1.1% - Time to Sell?

Key Points

• IonQ shares fell 1.1% to about $32.75 (intraday low $31.88) with 13.36 million shares traded—roughly 37% below average; the stock trades below its 50‑day ($38.05) and 200‑day ($49.71) moving averages and has a market cap of ~$12.0B.
• Analyst coverage is mixed: nine Buys, six Holds and one Sell, giving an average rating of "Moderate Buy" and an average target of $69.45, while individual price targets range from $37 to $100.
• Insider and institutional activity is notable: insiders have sold 8,581 shares in the last 90 days (including Robert Cardillo selling 5,165 at $39.44) while Director William Teuber Jr. bought 3,000 shares; insiders own 5.2% and institutions own 41.42% of the stock.

IonQ, Inc. (NYSE:IONQ - Get Free Report) traded down 1.1% on Tuesday . The stock traded as low as $31.88 and last traded at $32.7470. 13,361,450 shares were traded during mid-day trading, a decline of 37% from the average session volume of 21,355,947 shares. The stock had previously closed at $33.11.

Wall Street Analyst Weigh In

IONQ has been the subject of a number of recent analyst reports. Morgan Stanley set a $37.00 price objective on IonQ in a report on Thursday, February 26th. Benchmark reduced their target price on IonQ from $75.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of IonQ in a research report on Thursday, January 22nd. Mizuho began coverage on shares of IonQ in a research note on Thursday, December 11th. They set an "outperform" rating and a $90.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of IonQ in a report on Tuesday, December 16th. They issued a "buy" rating and a $100.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $69.45.

IonQ Stock Down 1.1%

The firm has a 50 day moving average of $38.05 and a 200-day moving average of $49.71. The company has a market cap of $12.01 billion, a P/E ratio of -13.15 and a beta of 2.61.

Insider Transactions at IonQ

In other news, insider Robert T. Cardillo sold 5,165 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total transaction of $203,707.60. Following the transaction, the insider owned 112,291 shares in the company, valued at approximately $4,428,757.04. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William J. Teuber, Jr. acquired 3,000 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $38.38 per share, with a total value of $115,140.00. Following the completion of the acquisition, the director directly owned 9,413 shares of the company's stock, valued at $361,270.94. This represents a 46.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 8,581 shares of company stock valued at $316,156. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IonQ

Several hedge funds have recently modified their holdings of IONQ. Purpose Unlimited Inc. bought a new position in IonQ in the fourth quarter worth approximately $784,000. Rockefeller Capital Management L.P. increased its holdings in shares of IonQ by 257.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 511,178 shares of the company's stock valued at $22,937,000 after acquiring an additional 368,045 shares during the period. Fund Advisors of America Inc FL bought a new position in shares of IonQ in the 4th quarter worth $463,000. Spear Advisors LLC bought a new position in shares of IonQ in the 4th quarter worth $1,853,000. Finally, Corient Private Wealth LLC lifted its stake in shares of IonQ by 29.5% during the 4th quarter. Corient Private Wealth LLC now owns 61,437 shares of the company's stock worth $2,757,000 after purchasing an additional 13,996 shares during the last quarter. Hedge funds and other 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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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