Versant Capital Management Inc Purchases 890 Shares of IonQ, Inc. (NYSE:IONQ)

Versant Capital Management Inc increased its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 1,348.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 956 shares of the company’s stock after buying an additional 890 shares during the quarter. Versant Capital Management Inc’s holdings in IonQ were worth $40,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC raised its position in shares of IonQ by 4,824.2% during the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after purchasing an additional 6,368 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in IonQ during the 2nd quarter worth approximately $67,000. nVerses Capital LLC bought a new position in IonQ in the third quarter valued at approximately $72,000. Xponance Inc. acquired a new position in shares of IonQ in the second quarter valued at approximately $88,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of IonQ during the third quarter worth $89,000. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DA Davidson started coverage on shares of IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price for the company. Benchmark increased their price objective on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Needham & Company LLC upped their price target on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.60.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 9,159 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $10.72, for a total transaction of $98,184.48. Following the transaction, the executive now owns 648,783 shares of the company’s stock, valued at $6,954,953.76. The trade was a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,223 shares of company stock valued at $2,286,983. 11.60% of the stock is owned by company insiders.

IonQ Stock Performance

IONQ opened at $50.96 on Tuesday. The business’s 50-day simple moving average is $32.53 and its 200 day simple moving average is $16.96. The firm has a market capitalization of $11.03 billion, a PE ratio of -62.91 and a beta of 2.43. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $51.66.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $12.40 million during the quarter, compared to analyst estimates of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company’s quarterly revenue was up 102.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) EPS. On average, research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

IonQ 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.