IonQ, Inc. (NYSE:IONQ) Receives Consensus Rating of “Moderate Buy” from Brokerages

IonQ, Inc. (NYSE:IONQ) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $69.4545.

Several research firms have commented on IONQ. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a research note on Monday, February 9th. DA Davidson reduced their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a report on Thursday, January 22nd. Needham & Company LLC dropped their price target on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Benchmark cut their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th.

IonQ Stock Performance

NYSE IONQ opened at $27.51 on Friday. The company has a market cap of $10.09 billion, a P/E ratio of -11.05 and a beta of 2.61. The business’s 50 day moving average price is $36.52 and its 200-day moving average price is $49.33. IonQ has a fifty-two week low of $18.81 and a fifty-two week high of $84.64.

Insider Buying and Selling at IonQ

In other news, insider Robert T. Cardillo sold 5,165 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,428,757.04. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares in the company, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,581 shares of company stock worth $316,156 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Institutional Trading of IonQ

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stone House Investment Management LLC lifted its position in shares of IonQ by 700.0% during the third quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after purchasing an additional 350 shares during the last quarter. Ameriflex Group Inc. grew its holdings in shares of IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after purchasing an additional 340 shares during the last quarter. Hilltop National Bank grew its holdings in shares of IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after purchasing an additional 225 shares during the last quarter. Financial Consulate Inc. purchased a new position in IonQ in the 3rd quarter worth about $29,000. Finally, UMB Bank n.a. bought a new stake in IonQ during the 3rd quarter valued at about $31,000. 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. 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.