Sugar Maple Asset Management LLC Takes $84,000 Position in IonQ, Inc. (NYSE:IONQ)

Sugar Maple Asset Management LLC purchased a new position in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $84,000.

Other institutional investors also recently modified their holdings of the company. City State Bank bought a new position in IonQ in the 4th quarter valued at approximately $36,000. Versant Capital Management Inc raised its holdings in IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after purchasing an additional 890 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of IonQ during the 4th quarter valued at about $42,000. GAMMA Investing LLC increased its stake 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 purchasing an additional 480 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in IonQ during the third quarter valued at about $72,000. 41.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the transaction, the chief executive officer now owns 414,363 shares in the company, valued at approximately $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 sold 79,098 shares of company stock valued at $1,909,323 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.

IonQ Stock Down 6.2 %

Shares of IonQ stock opened at $38.96 on Tuesday. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The business’s fifty day simple moving average is $35.80 and its 200-day simple moving average is $18.78.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The firm had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm’s revenue was up 102.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) EPS. As a group, sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Analysts Set New Price Targets

IONQ has been the subject of several research reports. DA Davidson initiated coverage on shares of IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective for the company. Benchmark lifted their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC upped their price objective on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target 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. Finally, Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, IonQ presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

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.