IonQ (NYSE:IONQ) Stock Rating Lowered by Wall Street Zen

IonQ (NYSE:IONQGet Free Report) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other equities analysts have also issued reports about the company. Benchmark dropped their price objective on IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IonQ in a research note on Monday, February 9th. JPMorgan Chase & Co. dropped their price objective on IonQ from $47.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of IonQ in a research note on Thursday, February 26th. Finally, Jefferies Financial Group initiated coverage on IonQ in a research note on Tuesday, December 16th. They issued a “buy” rating and a $100.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, IonQ has an average rating of “Moderate Buy” and an average target price of $69.45.

View Our Latest Stock Analysis on IONQ

IonQ Stock Performance

IonQ stock opened at $28.78 on Friday. The business’s 50-day simple moving average is $32.95 and its 200-day simple moving average is $47.21. The firm has a market capitalization of $10.55 billion, a PE ratio of -11.56 and a beta of 2.80. IonQ has a 52 week low of $23.49 and a 52 week high of $84.64.

Insider Activity at IonQ

In related news, Director William J. Teuber, Jr. bought 3,000 shares of IonQ stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $38.38 per share, for a total transaction of $115,140.00. Following the completion of the purchase, the director owned 9,413 shares in the company, valued at approximately $361,270.94. This represents a 46.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert T. Cardillo sold 5,165 shares of the stock in a transaction dated 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 transaction, the insider directly owned 112,291 shares of the company’s stock, valued at $4,428,757.04. This trade represents a 4.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 8,581 shares of company stock worth $316,156. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Stone House Investment Management LLC boosted its position in shares of IonQ by 700.0% during the third quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after purchasing an additional 350 shares in the last quarter. Ameriflex Group Inc. boosted its position in shares of IonQ by 485.7% during the third 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 boosted its position 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 in the last quarter. Financial Consulate Inc. bought a new position in shares of IonQ during the third quarter worth $29,000. Finally, UMB Bank n.a. bought a new position in shares of IonQ during the third quarter worth $31,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Trending Headlines about IonQ

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About IonQ

(Get Free Report)

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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