IonQ (NYSE:IONQ) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of IonQ (NYSE:IONQFree Report) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research firms have also recently issued reports on IONQ. Cantor Fitzgerald reiterated an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. DA Davidson dropped their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. cut their target price on shares of IonQ from $47.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Wedbush initiated coverage on shares of IonQ in a report on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price target on the stock. Finally, Benchmark decreased their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.45.

Read Our Latest Report on IONQ

IonQ Trading Up 0.0%

Shares of NYSE IONQ opened at $33.04 on Friday. IonQ has a 12-month low of $18.81 and a 12-month high of $84.64. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of -13.27 and a beta of 2.61. The firm has a 50 day moving average of $40.13 and a 200 day moving average of $50.07.

Insider Buying and Selling

In related news, Director Kathryn K. Chou sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the director owned 60,839 shares in the company, valued at $3,346,145. The trade was a 7.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert T. Cardillo sold 5,165 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total value of $203,707.60. Following the transaction, the insider directly owned 112,291 shares in the company, valued at approximately $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,781 shares of company stock valued at $497,804 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Archer Investment Corp lifted its stake in IonQ by 119.3% during the 2nd quarter. Archer Investment Corp now owns 592 shares of the company’s stock valued at $25,000 after acquiring an additional 322 shares during the period. Stone House Investment Management LLC increased its stake in shares of IonQ by 700.0% in the third quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after acquiring an additional 350 shares during the period. Ameriflex Group Inc. increased its stake 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 acquiring an additional 340 shares during the period. Hilltop National Bank raised its holdings in shares of IonQ by 112.5% during 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. Finally, Accent Capital Management LLC lifted its position in IonQ by 171.8% during the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ News Summary

Here are the key news stories impacting IonQ this week:

IonQ Company Profile

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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.

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Analyst Recommendations for IonQ (NYSE:IONQ)

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