IonQ, Inc. (NYSE:IONQ) Short Interest Down 13.1% in January

IonQ, Inc. (NYSE:IONQ) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 23,650,000 shares, a decline of 13.1% from the January 15th total of 27,230,000 shares. Based on an average trading volume of 30,920,000 shares, the short-interest ratio is currently 0.8 days. Currently, 12.6% of the shares of the stock are sold short.

IonQ Price Performance

Shares of IONQ stock traded down $3.64 on Tuesday, hitting $33.83. The stock had a trading volume of 20,038,554 shares, compared to its average volume of 28,573,607. The firm has a market capitalization of $7.32 billion, a P/E ratio of -41.76 and a beta of 2.40. IonQ has a 1 year low of $6.22 and a 1 year high of $54.74. The company’s 50 day moving average price is $39.76 and its 200-day moving average price is $23.52.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IONQ. Craig Hallum boosted their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. DA Davidson began coverage on IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective on the stock. The Goldman Sachs Group lifted their target price on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Needham & Company LLC lifted their target price on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Benchmark lifted their target price on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.00.

Insider Transactions at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the transaction, the chief financial officer now owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares in the company, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock valued at $1,314,652 over the last ninety days. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On IonQ

Several institutional investors and hedge funds have recently modified their holdings of IONQ. Creative Planning raised its holdings in shares of IonQ by 47.8% in the 3rd quarter. Creative Planning now owns 24,364 shares of the company’s stock valued at $213,000 after buying an additional 7,878 shares during the period. Vontobel Holding Ltd. increased its holdings in IonQ by 49.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 42,562 shares of the company’s stock worth $372,000 after purchasing an additional 14,095 shares during the period. nVerses Capital LLC purchased a new stake in IonQ during the 3rd quarter worth about $72,000. Good Life Advisors LLC purchased a new stake in IonQ during the 3rd quarter worth about $250,000. Finally, Bleakley Financial Group LLC purchased a new stake in IonQ during the 3rd quarter worth about $152,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Company Profile

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.