Shares of IonQ, Inc. (NYSE:IONQ – Get Rating) reached a new 52-week high during trading on Tuesday . The company traded as high as $11.37 and last traded at $11.01, with a volume of 4640294 shares traded. The stock had previously closed at $10.86.
Analyst Ratings Changes
Several brokerages have commented on IONQ. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of IonQ in a research note on Friday, March 31st. Morgan Stanley began coverage on shares of IonQ in a research note on Wednesday, April 26th. They set an “equal weight” rating and a $7.00 price objective for the company. Finally, Benchmark restated a “buy” rating and set a $8.00 price objective on shares of IonQ in a research note on Friday, March 31st.
IonQ Trading Down 5.4 %
The stock has a market capitalization of $2.06 billion, a PE ratio of -28.44 and a beta of 1.90. The firm’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $5.20.
Institutional Investors Weigh In On IonQ
Several institutional investors and hedge funds have recently added to or reduced their stakes in IONQ. HighTower Advisors LLC purchased a new stake in IonQ in the 1st quarter worth $140,000. Vontobel Holding Ltd. purchased a new stake in IonQ in the 1st quarter worth $349,000. Vanguard Group Inc. grew its holdings in shares of IonQ by 4.4% during the first quarter. Vanguard Group Inc. now owns 3,766,033 shares of the company’s stock worth $48,054,000 after buying an additional 160,077 shares in the last quarter. Ergoteles LLC purchased a new stake in shares of IonQ during the first quarter worth $1,478,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of IonQ by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 567,723 shares of the company’s stock worth $7,245,000 after buying an additional 14,020 shares in the last quarter. Hedge funds and other institutional investors own 46.18% of the company’s stock.
IonQ Company Profile
IonQ, Inc engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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.
- Get a free copy of the StockNews.com research report on IonQ (IONQ)
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