IonQ (NYSE:IONQ) Stock Price Up 5.8% – What’s Next?

IonQ, Inc. (NYSE:IONQ) was up 5.8% on Tuesday . The stock traded as high as $44.59 and last traded at $43.87. Approximately 9,025,229 shares were traded during trading, a decline of 74% from the average daily volume of 34,233,129 shares. The stock had previously closed at $41.47.

Analysts Set New Price Targets

Several equities analysts have weighed in on IONQ shares. Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC raised their price objective on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. DA Davidson began coverage on IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 price target for the company. The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, IonQ has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

IonQ Trading Up 1.5 %

The stock has a 50-day simple moving average of $38.59 and a two-hundred day simple moving average of $21.28. The firm has a market capitalization of $9.11 billion, a P/E ratio of -51.97 and a beta of 2.41.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) 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 company had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $10.56 million. During the same quarter in the prior year, the business posted ($0.22) earnings per share. The company’s revenue was up 102.1% compared to the same quarter last year. As a group, research analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Activity

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 transaction of $290,661.60. Following the transaction, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Rima Alameddine sold 21,337 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is currently owned by company insiders.

Institutional Trading of IonQ

Several large investors have recently added to or reduced their stakes in IONQ. Pathway Financial Advisers LLC purchased a new stake in shares of IonQ in the fourth quarter worth about $26,000. Golden State Wealth Management LLC acquired a new position in IonQ in the 4th quarter worth about $34,000. City State Bank acquired a new position in IonQ in the 4th quarter worth about $36,000. Hemington Wealth Management acquired a new position in IonQ in the 4th quarter worth about $37,000. Finally, Versant Capital Management Inc raised its holdings in IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after purchasing an additional 890 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

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.