IonQ (NYSE:IONQ) Raised to Hold at Wall Street Zen

by · The Cerbat Gem

IonQ (NYSE:IONQ – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research analysts also recently issued reports on IONQ. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research report on Thursday, January 22nd. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of IonQ in a research report on Thursday, February 26th. Benchmark lowered their target price on shares of IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Finally, Mizuho initiated coverage on IonQ in a research report on Thursday, December 11th. They set an “outperform” rating and a $90.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, IonQ has an average rating of “Moderate Buy” and an average price target of $69.45.

View Our Latest Analysis on IONQ

IonQ Stock Performance

Shares of IonQ stock opened at $33.04 on Friday. The company has a market capitalization of $12.11 billion, a PE ratio of -13.27 and a beta of 2.61. The company has a 50-day simple moving average of $40.13 and a two-hundred day simple moving average of $50.13. IonQ has a one year low of $18.81 and a one year high of $84.64.

Insider Activity

In related news, Director Kathryn K. Chou sold 5,000 shares of IonQ stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the director directly owned 60,839 shares in the company, valued at $3,346,145. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert T. Cardillo sold 5,165 shares of the business’s stock in a transaction that occurred 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 represents a 4.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,781 shares of company stock worth $497,804 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IONQ. Royal Bank of Canada lifted its stake in shares of IonQ by 12.5% during the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after buying an additional 14,898 shares during the period. Amundi acquired a new position in shares of IonQ in the 1st quarter valued at $630,000. AQR Capital Management LLC raised its stake in IonQ by 106.2% in the 1st quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock worth $1,265,000 after acquiring an additional 29,513 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in IonQ by 24.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock worth $9,932,000 after acquiring an additional 87,428 shares during the last quarter. Finally, Focus Partners Wealth lifted its position in IonQ by 30.3% during the 1st quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after acquiring an additional 10,881 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

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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