IonQ (NYSE:IONQ) Stock Price Down 3% – Time to Sell?

IonQ, Inc. (NYSE:IONQ) fell 3% during trading on Monday . The stock traded as low as $37.04 and last traded at $37.47. 8,150,097 shares changed hands during trading, a decline of 71% from the average session volume of 27,816,476 shares. The stock had previously closed at $38.65.

Analyst Ratings Changes

IONQ has been the subject of a number of analyst reports. DA Davidson assumed coverage on shares of IonQ in a research report on Thursday, December 19th. They issued a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Craig Hallum increased their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC boosted their target price on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Benchmark upped their price objective on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

IonQ Stock Up 0.6 %

The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of -42.14 and a beta of 2.40. The stock has a 50 day moving average of $39.77 and a 200 day moving average of $23.71.

Insiders Place Their Bets

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

Institutional Investors Weigh In On IonQ

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after buying an additional 135,851 shares during the period. Yong Rong HK Asset Management Ltd purchased a new position in shares of IonQ in the 3rd quarter worth about $3,749,000. Rockefeller Capital Management L.P. boosted its stake in IonQ by 34.2% in the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock worth $3,825,000 after buying an additional 111,435 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of IonQ during the 3rd quarter valued at $1,631,000. Finally, Prospera Financial Services Inc grew its stake in shares of IonQ by 196.1% during the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after buying an additional 25,502 shares during the last quarter. 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.