IonQ (NYSE:IONQ) Stock Price Down 2.3% - Here's Why

Key Points

• Shares of IonQ slid 2.3% to about $31.95 intraday, trading on ~27% lower-than-average volume and sitting well below the 50‑day ($37.72) and 200‑day ($49.65) moving averages; market cap is roughly $11.7B and the company has a negative P/E.
• Analyst sentiment is mixed but tilted positive — consensus is a Moderate Buy with an average price target of $69.45, though several firms recently cut targets (Benchmark $75→$65, JPMorgan $47→$42) and ratings range from sell to buy.
• Insider activity is split: John W. Raymond sold 2,800 shares while director William J. Teuber Jr. bought 3,000 shares; insiders were net sellers this quarter and collectively own about 5.20% of the company.

Shares of IonQ, Inc. (NYSE:IONQ - Get Free Report) traded down 2.3% during mid-day trading on Wednesday . The company traded as low as $31.66 and last traded at $31.9490. 15,536,549 shares traded hands during trading, a decline of 27% from the average session volume of 21,293,805 shares. The stock had previously closed at $32.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IONQ shares. Benchmark cut their price target on IonQ from $75.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. decreased their price objective on IonQ from $47.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, February 26th. Wedbush started coverage on IonQ in a research report on Wednesday, December 17th. They issued an "outperform" rating and a $60.00 target price on the stock. Jefferies Financial Group initiated coverage on IonQ in a research note on Tuesday, December 16th. They issued a "buy" rating and a $100.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of IonQ in a research report on Thursday, January 22nd. Nine investment 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. According to data from MarketBeat.com, IonQ has a consensus rating of "Moderate Buy" and an average price target of $69.45.

IonQ Trading Down 2.3%

The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of -12.83 and a beta of 2.61. The stock's 50 day moving average price is $37.72 and its 200 day moving average price is $49.65.

Insider Buying and Selling

In related news, insider John W. Raymond sold 2,800 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total transaction of $93,352.00. Following the completion of the transaction, the insider directly owned 83,963 shares of the company's stock, valued at approximately $2,799,326.42. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Teuber, Jr. purchased 3,000 shares of the firm's stock in a transaction on Friday, February 27th. The stock was bought at an average price of $38.38 per share, with a total value of $115,140.00. Following the completion of the purchase, the director owned 9,413 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders have sold 8,581 shares of company stock worth $316,156. Corporate insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On IonQ

Several hedge funds and other institutional investors have recently made changes to their positions in IONQ. TD Waterhouse Canada Inc. raised its position in shares of IonQ by 28.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company's stock valued at $40,000 after buying an additional 223 shares in the last quarter. Hilltop National Bank grew its position in IonQ by 112.5% during the third quarter. Hilltop National Bank now owns 425 shares of the company's stock worth $26,000 after buying an additional 225 shares in the last quarter. International Assets Investment Management LLC grew its position in IonQ by 4.3% during the third quarter. International Assets Investment Management LLC now owns 5,679 shares of the company's stock worth $349,000 after buying an additional 235 shares in the last quarter. Lauer Wealth LLC increased its stake in IonQ by 5.5% during the 3rd quarter. Lauer Wealth LLC now owns 4,852 shares of the company's stock worth $298,000 after acquiring an additional 255 shares during the period. Finally, GAMMA Investing LLC increased its stake in IonQ by 11.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,480 shares of the company's stock worth $153,000 after acquiring an additional 261 shares during the period. 41.42% of the stock is owned by institutional investors.

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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