AlphaQuest LLC Takes Position in IonQ, Inc. (NYSE:IONQ)

AlphaQuest LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,833 shares of the company’s stock, valued at approximately $160,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock valued at $116,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of IonQ by 73.2% during the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after purchasing an additional 480 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after purchasing an additional 501 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in shares of IonQ during the 4th quarter valued at about $26,000. Finally, Spire Wealth Management boosted its position in shares of IonQ by 406.3% during the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after purchasing an additional 772 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

Insider Transactions at IonQ

In other news, Director William F. Scannell acquired 93,066 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the acquisition, the director now owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. This represents a 221.69 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the transaction, the chief financial officer now owns 944,510 shares in the company, valued at $17,539,550.70. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,033,166 shares of company stock valued at $38,059,593 over the last three months. 11.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on IONQ shares. The Goldman Sachs Group upped their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Benchmark reduced their price objective on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of IonQ in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $44.80.

IonQ Price Performance

NYSE IONQ opened at $24.84 on Tuesday. The company has a 50 day simple moving average of $33.50 and a 200-day simple moving average of $26.12. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -30.67 and a beta of 2.50. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

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.