GAMMA Investing LLC increased its holdings in IonQ, Inc. (NYSE:IONQ – Free Report) by 73.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,136 shares of the company’s stock after purchasing an additional 480 shares during the period. GAMMA Investing LLC’s holdings in IonQ were worth $47,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc increased its position in shares of IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after acquiring an additional 890 shares in the last quarter. Quest Partners LLC increased its position in shares of IonQ by 4,824.2% in the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after acquiring an additional 6,368 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of IonQ in the second quarter worth approximately $67,000. nVerses Capital LLC purchased a new position in shares of IonQ in the third quarter worth approximately $72,000. Finally, Xponance Inc. purchased a new position in shares of IonQ in the second quarter worth approximately $88,000. 41.42% of the stock is currently owned by institutional investors.
IonQ Stock Down 13.9 %
IONQ stock opened at $27.85 on Tuesday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of -34.38 and a beta of 2.49. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The firm has a 50 day moving average of $34.39 and a two-hundred day moving average of $17.93.
Insiders Place Their Bets
In other news, CEO Peter Hume Chapman sold 13,106 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Rima Alameddine sold 9,875 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total transaction of $115,735.00. Following the completion of the sale, the executive now owns 638,908 shares of the company’s stock, valued at $7,488,001.76. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,348 shares of company stock valued at $2,181,123 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.
Analysts Set New Price Targets
IONQ has been the topic of several analyst reports. DA Davidson initiated coverage on shares of IonQ in a research report on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price on the stock. Needham & Company LLC lifted their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Craig Hallum boosted their price objective 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. Benchmark boosted their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.
Read Our Latest Analysis on IonQ
IonQ Company 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.
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