IonQ Inc. (NYSE:IONQ) shares are trading higher Monday. The move follows a fresh analyst endorsement and heavy short interest dynamics.
The Nasdaq is down 0.66% while the S&P 500 has shed 0.38%.
• IonQ shares are showing limited movement. Where are IONQ shares going?
Northland Capital Sets Bullish Target
Northland Capital Markets analyst Nehal Chokshi initiated coverage on IonQ on Monday. Chokshi assigned an Outperform rating to the quantum computing firm. According to Benzinga Pro, the analyst set a price target of $55. This upbeat valuation follows a volatile period for the stock.
Short Interest Fuels Squeeze Potential
Data shows a recent climb in bearish bets. Short interest rose from 79.48 million to 80.93 million shares recently. This represents 22.78% of the company’s float. It would …
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