IonQ, Inc. (NYSE:IONQ) Short Interest Update

IonQ, Inc. (NYSE:IONQ) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 23,650,000 shares, a drop of 13.1% from the January 15th total of 27,230,000 shares. Based on an average daily volume of 30,920,000 shares, the short-interest ratio is currently 0.8 days. Currently, 12.6% of the shares of the stock are short sold.

IonQ Price Performance

Shares of IONQ stock traded down $3.64 during trading hours on Tuesday, hitting $33.83. The company had a trading volume of 20,038,554 shares, compared to its average volume of 28,573,607. The stock has a market capitalization of $7.32 billion, a PE ratio of -41.76 and a beta of 2.40. The company’s fifty day moving average is $39.76 and its 200 day moving average is $23.52. IonQ has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IONQ shares. Craig Hallum boosted their price target on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. DA Davidson assumed coverage on shares of IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 price target 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. The Goldman Sachs Group upped their price objective on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, IonQ currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now owns 571,321 shares of the company’s stock, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares in the company, 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. In the last 90 days, insiders have sold 44,223 shares of company stock worth $1,314,652. Corporate insiders own 11.60% of the company’s stock.

Institutional Trading of IonQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC boosted its holdings in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after acquiring an additional 501 shares during the period. Measured Risk Portfolios Inc. acquired a new position in IonQ in the 4th quarter valued at about $27,000. TD Waterhouse Canada Inc. purchased a new stake in IonQ during the fourth quarter worth about $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of IonQ during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

About IonQ

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.