IonQ (NYSE:IONQ) Shares Gap Down – Here’s What Happened

IonQ, Inc. (NYSE:IONQ) gapped down before the market opened on Monday . The stock had previously closed at $40.57, but opened at $39.49. IonQ shares last traded at $41.34, with a volume of 3,208,178 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IONQ shares. DA Davidson started coverage on shares of IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective for the company. Needham & Company LLC lifted their price target 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. Craig Hallum upped their price objective on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. Benchmark raised their target price on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.00.

IonQ Trading Down 8.1 %

The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of -46.59 and a beta of 2.40. The firm’s fifty day moving average price is $39.46 and its 200 day moving average price is $22.46.

Insiders Place Their Bets

In other news, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the sale, the chief financial officer now owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, 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 worth $1,314,652 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.

Institutional Trading of IonQ

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