IonQ (NYSE:IONQ) Shares Down 0.6% - Here's Why

IonQ, Inc. (NYSE:IONQ - Get Free Report)'s share price fell 0.6% during trading on Friday . The company traded as low as $25.67 and last traded at $25.73. 7,567,647 shares were traded during mid-day trading, a decline of 52% from the average session volume of 15,606,573 shares. The stock had previously closed at $25.89.Analyst Ratings ChangesIONQ & RGTI Join DARPA Quantum Initiative: High Stakes Are AheadIONQ has been the subject of a number of research reports. Craig Hallum boosted their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. The Goldman Sachs Group increased their target price on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. DA Davidson raised shares of IonQ to a "strong-buy" rating in a research report on Thursday, February 20th. Finally, Benchmark reiterated a "buy" rating and issued a $45.00 price objective on shares of IonQ in a report on Monday, March 31st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $44.80.View Our Latest Stock Report on IONQIonQ Stock PerformanceQuantum Computing: The $6.5 Billion Opportunity You Can’t IgnoreThe firm has a market cap of $5.89 billion, a price-to-earnings ratio of -32.47 and a beta of 2.50. The business's 50 day moving average price is $27.60 and its 200-day moving average price is $28.09. Insider Activity at IonQIn related news, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the transaction, the insider now directly owns 414,363 shares of the company's stock, valued at $7,756,875.36. This represents a 82.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William F. Scannell bought 93,066 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the purchase, the director now directly owns 135,047 shares in the company, valued at $2,945,375.07. This represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. Corporate insiders own 11.60% of the company's stock. Institutional Inflows and OutflowsQuantum Gamble? Is IonQ's Stock an Opportunity or a Mirage?Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in IonQ by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company's stock valued at $892,797,000 after buying an additional 125,144 shares during the period. Geode Capital Management LLC raised its holdings in IonQ by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company's stock worth $186,593,000 after purchasing an additional 45,942 shares in the last quarter. State Street Corp lifted its position in IonQ by 1.8% in the third quarter. State Street Corp now owns 4,260,880 shares of the company's stock worth $37,240,000 after purchasing an additional 75,596 shares during the period. JPMorgan Chase & Co. boosted its stake in IonQ by 1,310.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after purchasing an additional 2,293,231 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in IonQ by 12.6% during the 4th quarter. Northern Trust Corp now owns 1,934,625 shares of the company's stock valued at $80,809,000 after purchasing an additional 216,752 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds. 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.Featured StoriesFive stocks we like better than IonQWhere Do I Find 52-Week Highs and Lows?JPMorgan is a Buy, if You Can Handle The Volatility Should You Invest in Penny Stocks?United States Steel's Crash: An Unmissable Buying OpportunityDividend Screener: How to Evaluate Dividend Stocks Before BuyingRocket Lab Stock: Weathering the Storm, Time for a Comeback?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in IonQ Right Now?Before you consider IonQ, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IonQ wasn't on the list.While IonQ currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here