IonQ (NYSE:IONQ) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of IonQ (NYSE:IONQ) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other research analysts have also issued reports on the company. DA Davidson cut their price target on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Needham & Company LLC cut their price target on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Morgan Stanley set a $37.00 price target on IonQ in a report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a report on Tuesday, April 21st. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.25.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $43.91 on Friday. The business’s 50 day simple moving average is $34.74 and its two-hundred day simple moving average is $44.66. The firm has a market cap of $16.10 billion, a P/E ratio of -17.64 and a beta of 2.80. IonQ has a 52-week low of $25.89 and a 52-week high of $84.64.

Insider Buying and Selling

In related news, insider Robert T. Cardillo sold 5,165 shares of IonQ 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 sale, the insider directly owned 112,291 shares in the company, valued at approximately $4,428,757.04. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John W. Raymond sold 2,800 shares of IonQ 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 in the company, valued at $2,799,326.42. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,581 shares of company stock worth $316,156. 5.20% of the stock is owned by company insiders.

Institutional Trading of IonQ

A number of large investors have recently bought and sold shares of IONQ. Stone House Investment Management LLC increased its position in 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 buying an additional 350 shares during the last quarter. Ameriflex Group Inc. increased its position in IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after buying an additional 340 shares during the last quarter. Accent Capital Management LLC increased 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 buying an additional 371 shares during the last quarter. Fortitude Family Office LLC increased 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 buying an additional 608 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new stake in IonQ in the third quarter worth $29,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

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.