IonQ (NYSE:IONQ) Trading Down 1.7%

IonQ, Inc. (NYSE:IONQ) shares fell 1.7% on Tuesday . The company traded as low as $9.32 and last traded at $9.39. 1,810,775 shares were traded during trading, a decline of 74% from the average session volume of 7,079,790 shares. The stock had previously closed at $9.55.

Analysts Set New Price Targets

Several research analysts have weighed in on IONQ shares. The Goldman Sachs Group decreased their price objective on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of IonQ in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

IonQ Trading Up 4.9 %

The stock’s 50-day moving average price is $10.44 and its 200-day moving average price is $12.25. The company has a market capitalization of $1.99 billion, a P/E ratio of -12.26 and a beta of 2.16.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.03. The firm had revenue of $6.11 million for the quarter, compared to the consensus estimate of $5.70 million. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. Sell-side analysts expect that IonQ, Inc. will post -1.24 earnings per share for the current fiscal year.

Insider Activity at IonQ

In other IonQ news, CTO Jungsang Kim sold 10,220 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $104,244.00. Following the sale, the chief technology officer now directly owns 6,619,941 shares in the company, valued at approximately $67,523,398.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Peter Hume Chapman sold 29,452 shares of IonQ stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $300,410.40. Following the transaction, the chief executive officer now owns 451,233 shares of the company’s stock, valued at approximately $4,602,576.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jungsang Kim sold 10,220 shares of IonQ stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.20, for a total transaction of $104,244.00. Following the completion of the transaction, the chief technology officer now directly owns 6,619,941 shares in the company, valued at approximately $67,523,398.20. The disclosure for this sale can be found here. Insiders have sold a total of 86,556 shares of company stock worth $882,871 in the last ninety days. 13.00% of the stock is owned by insiders.

Hedge Funds Weigh In On IonQ

Hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of IonQ in the second quarter worth approximately $28,000. Huntington National Bank increased its position in shares of IonQ by 250,000.0% in the second quarter. Huntington National Bank now owns 2,501 shares of the company’s stock worth $34,000 after acquiring an additional 2,500 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of IonQ in the fourth quarter worth approximately $37,000. C M Bidwell & Associates Ltd. purchased a new position in shares of IonQ in the second quarter worth approximately $38,000. Finally, Harbour Investments Inc. increased its position in shares of IonQ by 193.2% in the second quarter. Harbour Investments Inc. now owns 2,932 shares of the company’s stock worth $40,000 after acquiring an additional 1,932 shares in the last quarter. Institutional investors and hedge funds 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.