Gagnon Advisors LLC Has $4.41 Million Position in IonQ, Inc. (NYSE:IONQ)

Gagnon Advisors LLC trimmed its stake in shares of IonQ, Inc. (NYSE:IONQ) by 33.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,589 shares of the company’s stock after selling 52,786 shares during the quarter. IonQ comprises approximately 2.8% of Gagnon Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Gagnon Advisors LLC’s holdings in IonQ were worth $4,410,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IONQ. City State Bank acquired a new position in IonQ in the 4th quarter valued at $36,000. Versant Capital Management Inc grew its stake 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 valued at $40,000 after acquiring an additional 890 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in IonQ during the fourth quarter worth about $42,000. GAMMA Investing LLC raised its stake in IonQ by 73.2% in the 4th 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 acquired a new position in shares of IonQ during the 3rd quarter worth approximately $72,000. 41.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IONQ shares. Craig Hallum lifted their price target 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. Needham & Company LLC increased their target price on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark boosted their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. DA Davidson started coverage on shares of IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, IonQ currently has an average rating of “Moderate Buy” and an average price target of $33.00.

IonQ Price Performance

Shares of NYSE IONQ opened at $39.58 on Friday. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock has a 50-day moving average price of $38.22 and a two-hundred day moving average price of $20.67.

IonQ (NYSE:IONQ) last released its quarterly earnings data 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 company had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. IonQ’s revenue for the quarter was up 102.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.22) earnings per share. Equities analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Activity at IonQ

In related news, 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 value of $634,349.01. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,223 shares of company stock valued at $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.