Shares of IonQ, Inc. (NYSE:IONQ - Get Free Report) rose 26.3% during trading on Wednesday . The stock traded as high as $38.38 and last traded at $37.28. Approximately 36,637,886 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 47,616,500 shares. The stock had previously closed at $29.51.
A number of research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a report on Friday, December 20th. Benchmark upped their price objective on IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, DA Davidson assumed coverage on IonQ in a report on Thursday, December 19th. They issued a "buy" rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.
Check Out Our Latest Research Report on IonQ
The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of -48.09 and a beta of 2.43. The firm has a fifty day moving average of $35.52 and a 200-day moving average of $18.40.
IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business 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 firm earned ($0.22) earnings per share. IonQ's quarterly revenue was up 102.1% on a year-over-year basis. As a group, research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.
In other news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now owns 571,321 shares of the company's stock, valued at $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,098 shares of company stock worth $1,909,323. Corporate insiders own 11.60% of the company's stock.
Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of IonQ by 73.2% during the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock worth $47,000 after buying an additional 480 shares during the last quarter. City State Bank acquired a new stake in IonQ during the fourth quarter worth about $36,000. Versant Capital Management Inc raised its holdings in shares of 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. Future Financial Wealth Managment LLC acquired a new position in shares of IonQ in the 4th quarter valued at about $42,000. Finally, Daymark Wealth Partners LLC increased its position in IonQ by 9.2% during the 4th quarter. Daymark Wealth Partners LLC now owns 13,100 shares of the company's stock worth $547,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider IonQ, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IonQ wasn't on the list.
While IonQ currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.