IonQ, Inc. (NYSE:IONQ – Get Free Report) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $16.50.
IONQ has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price objective on IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of IonQ in a research report on Thursday, February 29th.
Read Our Latest Research Report on IONQ
Insider Buying and Selling at IonQ
Institutional Trading of IonQ
A number of hedge funds and other institutional investors have recently modified their holdings of IONQ. National Bank of Canada FI increased its position in shares of IonQ by 806.4% in the third quarter. National Bank of Canada FI now owns 6,345 shares of the company’s stock valued at $93,000 after acquiring an additional 5,645 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in IonQ during the third quarter worth about $417,000. DnB Asset Management AS grew its holdings in IonQ by 55.8% during the third quarter. DnB Asset Management AS now owns 31,387 shares of the company’s stock worth $467,000 after purchasing an additional 11,239 shares during the period. Friedenthal Financial bought a new position in IonQ during the third quarter worth about $636,000. Finally, Aurora Private Wealth Inc. bought a new position in IonQ during the third quarter worth about $151,000. Institutional investors and hedge funds own 41.42% of the company’s stock.
IonQ Stock Up 6.4 %
Shares of NYSE:IONQ opened at $7.97 on Friday. The business has a 50 day moving average price of $9.52 and a 200 day moving average price of $11.28. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -10.22 and a beta of 2.14. IonQ has a twelve month low of $5.29 and a twelve month high of $21.60.
IonQ (NYSE:IONQ – Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The business had revenue of $6.11 million during the quarter, compared to analysts’ expectations of $5.70 million. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. Analysts anticipate that IonQ will post -1.24 EPS for the current year.
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.
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