Wealthcare Advisory Partners LLC purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,137 shares of the company’s stock, valued at approximately $215,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City State Bank purchased a new position in shares of IonQ in the 4th quarter valued at $36,000. Versant Capital Management Inc raised its position in IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of IonQ during the fourth quarter worth about $42,000. GAMMA Investing LLC boosted its position in shares of IonQ by 73.2% in the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock worth $47,000 after buying an additional 480 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of IonQ in the third quarter worth about $72,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.
IonQ Price Performance
IONQ opened at $41.82 on Thursday. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock has a market capitalization of $9.05 billion, a PE ratio of -51.63 and a beta of 2.43. The firm’s fifty day moving average price is $36.55 and its 200 day moving average price is $19.27.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. The Goldman Sachs Group boosted their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. DA Davidson initiated coverage on shares of IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 target price on the stock. Benchmark raised their price target on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC boosted their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Craig Hallum raised their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, IonQ has a consensus rating of “Moderate Buy” and an average target price of $33.00.
Read Our Latest Stock Report on IonQ
Insiders Place Their Bets
In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the sale, the executive now directly owns 571,321 shares of the company’s stock, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,098 shares of company stock valued at $1,720,683 in the last quarter. Insiders own 11.60% 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.
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