IonQ (NYSE:IONQ) Stock Price Down 5.6%

IonQ, Inc. (NYSE:IONQ)’s share price was down 5.6% during mid-day trading on Tuesday . The stock traded as low as $8.71 and last traded at $8.76. Approximately 2,984,210 shares were traded during trading, a decline of 54% from the average daily volume of 6,521,017 shares. The stock had previously closed at $9.28.

Wall Street Analyst Weigh In

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

IonQ Stock Performance

The company’s fifty day moving average price is $9.14 and its two-hundred day moving average price is $10.90. The firm has a market capitalization of $1.80 billion, a PE ratio of -11.56 and a beta of 2.17.

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

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 19,672 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $200,654.40. Following the completion of the sale, the chief financial officer now owns 954,224 shares of the company’s stock, valued at approximately $9,733,084.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Thomas G. Kramer sold 19,672 shares of IonQ stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $200,654.40. Following the transaction, the chief financial officer now owns 954,224 shares in the company, valued at approximately $9,733,084.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Hume Chapman sold 29,452 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 451,233 shares of the company’s stock, valued at $4,602,576.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,556 shares of company stock valued at $882,871. Company insiders own 13.00% of the company’s stock.

Hedge Funds Weigh In On IonQ

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC increased its position in shares of IonQ by 28.0% during the fourth quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock worth $56,000 after acquiring an additional 990 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in IonQ by 32.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the company’s stock worth $60,000 after purchasing an additional 1,000 shares during the last quarter. C M Bidwell & Associates Ltd. raised its position in shares of IonQ by 61.2% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 4,542 shares of the company’s stock valued at $68,000 after purchasing an additional 1,724 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of IonQ by 26.1% during the 4th quarter. National Bank of Canada FI now owns 8,000 shares of the company’s stock valued at $97,000 after buying an additional 1,655 shares during the last quarter. Finally, Prospect Financial Services LLC acquired a new stake in IonQ in the fourth quarter valued at $124,000. 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.