Craig Hallum Trims IonQ (NYSE:IONQ) Target Price to $12.00

IonQ (NYSE:IONQGet Rating) had its target price cut by investment analysts at Craig Hallum from $26.00 to $12.00 in a note issued to investors on Tuesday, The Fly reports. Craig Hallum’s price objective would indicate a potential upside of 124.30% from the stock’s current price.

Separately, Benchmark dropped their target price on shares of IonQ from $20.00 to $15.00 in a report on Tuesday.

IonQ stock traded up $0.49 during trading hours on Tuesday, reaching $5.35. 174,550 shares of the company’s stock traded hands, compared to its average volume of 7,670,747. IonQ has a fifty-two week low of $4.16 and a fifty-two week high of $35.90. The firm’s 50 day moving average is $10.49 and its 200-day moving average is $14.54.

IonQ (NYSE:IONQGet Rating) last released its earnings results on Monday, May 16th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08.

In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of IonQ stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.16, for a total value of $6,073,818.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 14.10% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. SB Global Advisers Ltd bought a new position in IonQ during the fourth quarter worth $102,517,000. OUP Management Co. LLC bought a new stake in IonQ in the 4th quarter valued at about $69,256,000. Silver Lake Group L.L.C. bought a new position in shares of IonQ during the fourth quarter worth approximately $66,800,000. Acme LLC bought a new position in shares of IonQ during the fourth quarter worth approximately $64,636,000. Finally, Vanguard Group Inc. increased its holdings in shares of IonQ by 4.4% during the first quarter. Vanguard Group Inc. now owns 3,766,033 shares of the company’s stock worth $48,054,000 after purchasing an additional 160,077 shares during the period. 39.92% of the stock is owned by institutional investors and hedge funds.

About IonQ (Get Rating)

IonQ, Inc engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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.

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