IonQ, Inc. (NYSE:IONQ) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of IonQ, Inc. (NYSE:IONQ) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $69.4545.

Several research firms recently weighed in on IONQ. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of IonQ in a research note on Thursday, February 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Benchmark cut their price objective on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Jefferies Financial Group initiated coverage on IonQ in a report on Tuesday, December 16th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Mizuho began coverage on IonQ in a research report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 target price on the stock.

Insider Buying and Selling at IonQ

In other IonQ news, insider John W. Raymond sold 2,800 shares of IonQ stock in a transaction that occurred 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 $2,799,326.42. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William J. Teuber, Jr. bought 3,000 shares of the stock in a transaction dated Friday, February 27th. The shares were purchased at an average price of $38.38 per share, with a total value of $115,140.00. Following the completion of the transaction, the director directly owned 9,413 shares in the company, valued at approximately $361,270.94. The trade was a 46.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 8,581 shares of company stock worth $316,156 in the last quarter. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IonQ

Several institutional investors have recently bought and sold shares of the business. Stone House Investment Management LLC increased its holdings 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 worth $25,000 after buying an additional 350 shares during the last quarter. Ameriflex Group Inc. lifted its holdings in shares of IonQ by 485.7% in the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after acquiring an additional 340 shares during the last quarter. Hilltop National Bank lifted its holdings in shares of IonQ by 112.5% in the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after acquiring an additional 225 shares during the last quarter. Accent Capital Management LLC grew its position in IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position in IonQ by 3,800.0% in the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock worth $28,000 after acquiring an additional 608 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

IonQ Price Performance

IonQ stock opened at $27.51 on Friday. IonQ has a 1 year low of $18.81 and a 1 year high of $84.64. The firm’s 50 day moving average price is $36.52 and its 200-day moving average price is $49.33. The stock has a market cap of $10.09 billion, a P/E ratio of -11.05 and a beta of 2.61.

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.