Brokerages Set IonQ, Inc. (NYSE:IONQ) PT at $69.45

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

Several research analysts have weighed in on IONQ shares. JPMorgan Chase & Co. cut their price target on IonQ from $47.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, February 26th. Morgan Stanley set a $37.00 target price on IonQ in a research note on Thursday, February 26th. Wedbush initiated coverage on IonQ in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of IonQ in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research note on Thursday, January 22nd.

Insider Activity at IonQ

In other news, 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 transaction of $203,707.60. Following the completion of the sale, the insider directly owned 112,291 shares in the company, valued at $4,428,757.04. This represents a 4.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction 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 sale, the insider owned 83,963 shares of the company’s stock, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 8,581 shares of company stock worth $316,156. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stone House Investment Management LLC lifted its stake in shares of IonQ by 700.0% in the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after purchasing an additional 350 shares in the last quarter. Ameriflex Group Inc. increased its position in IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after purchasing an additional 340 shares in the last quarter. Hilltop National Bank increased its position in IonQ by 112.5% during the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after purchasing an additional 225 shares in the last quarter. Accent Capital Management LLC raised its holdings in IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after buying an additional 371 shares during the period. Finally, Fortitude Family Office LLC raised its holdings in IonQ by 3,800.0% in the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after buying an additional 608 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Price Performance

Shares of NYSE IONQ opened at $28.89 on Friday. The company has a 50-day simple moving average of $35.60 and a 200-day simple moving average of $49.04. The company has a market cap of $10.59 billion, a PE ratio of -11.60 and a beta of 2.61. IonQ has a 12 month low of $18.81 and a 12 month high of $84.64.

About IonQ

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.