IonQ, Inc. (NYSE:IONQ) Sees Large Decrease in Short Interest

IonQ, Inc. (NYSE:IONQ) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 23,650,000 shares, a decrease of 13.1% from the January 15th total of 27,230,000 shares. Approximately 12.6% of the shares of the company are short sold. Based on an average trading volume of 30,920,000 shares, the short-interest ratio is presently 0.8 days.

IonQ Price Performance

Shares of IonQ stock traded down $3.64 during trading on Tuesday, hitting $33.83. The stock had a trading volume of 20,038,554 shares, compared to its average volume of 28,573,607. The stock has a market cap of $7.32 billion, a PE ratio of -41.76 and a beta of 2.40. The firm’s fifty day simple moving average is $39.76 and its 200-day simple moving average is $23.52. IonQ has a 12 month low of $6.22 and a 12 month high of $54.74.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the 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 $634,349.01. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’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 $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 position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock valued at $1,314,652 in the last three months. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IONQ. Pathway Financial Advisers LLC bought a new position in shares of IonQ during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its holdings in IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after buying an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new position in IonQ in the 4th quarter worth about $27,000. TD Waterhouse Canada Inc. purchased a new position in shares of IonQ during the 4th quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in IonQ in the 4th quarter valued at $34,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on IONQ shares. DA Davidson initiated coverage on IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 price target for the company. Craig Hallum upped 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. Benchmark raised their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their price objective on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.00.

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.