Kennedy Investment Group Invests $343,000 in IonQ, Inc. (NYSE:IONQ)

Kennedy Investment Group bought a new position in IonQ, Inc. (NYSE:IONQ) during the fourth quarter, HoldingsChannel.com reports. The fund bought 8,217 shares of the company’s stock, valued at approximately $343,000.

A number of other large investors have also recently made changes to their positions in IONQ. City State Bank purchased a new position in shares of IonQ during the 4th quarter worth about $36,000. Versant Capital Management Inc boosted its stake in shares of IonQ by 1,348.5% during 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 worth about $42,000. GAMMA Investing LLC boosted its position in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after buying an additional 480 shares during the period. Finally, nVerses Capital LLC purchased a new stake in IonQ in the 3rd quarter valued at about $72,000. 41.42% of the stock is currently owned by institutional investors.

IonQ Stock Up 0.7 %

NYSE IONQ opened at $38.81 on Wednesday. The firm has a market cap of $8.40 billion, a PE ratio of -47.92 and a beta of 2.43. The company has a 50 day moving average price of $37.66 and a 200 day moving average price of $20.19. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74.

IonQ (NYSE:IONQ) last posted 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 firm had revenue of $12.40 million for the quarter, compared to the consensus estimate of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company’s revenue was up 102.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) EPS. On average, equities research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of IonQ from $13.00 to $18.00 and gave the company 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. DA Davidson started coverage on shares of IonQ in a research report on Thursday, December 19th. They issued a “buy” rating and a $50.00 price objective for the company. Benchmark upped their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. One 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Insider Buying and Selling

In related news, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the sale, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction on Wednesday, December 11th. The stock was 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 in the company, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock worth $1,314,652 in the last 90 days. 11.60% of the stock is owned by corporate insiders.

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.