IonQ, Inc. (NYSE:IONQ) Holdings Lifted by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC grew its stake in shares of IonQ, Inc. (NYSE:IONQ) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,100 shares of the company’s stock after acquiring an additional 1,100 shares during the period. Daymark Wealth Partners LLC’s holdings in IonQ were worth $547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. City State Bank bought a new stake in shares of IonQ during the 4th quarter worth about $36,000. Versant Capital Management Inc boosted its position 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 during the period. Future Financial Wealth Managment LLC bought a new position in IonQ during the fourth quarter worth $42,000. GAMMA Investing LLC raised its stake in 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 during the last quarter. Finally, nVerses Capital LLC bought a new stake in IonQ in the 3rd quarter valued at $72,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Price Performance

Shares of IONQ opened at $41.27 on Friday. The company has a market capitalization of $8.93 billion, a P/E ratio of -50.94 and a beta of 2.43. The business’s 50 day simple moving average is $36.86 and its 200-day simple moving average is $19.43. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

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

Insider Activity at IonQ

In other news, CEO Peter Hume Chapman sold 13,106 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 $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Rima Alameddine sold 21,337 shares of IonQ 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 sale, the executive now directly owns 571,321 shares of the company’s stock, valued at approximately $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 have sold a total of 67,098 shares of company stock worth $1,720,683 over the last 90 days. Insiders own 11.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IONQ. Craig Hallum upped their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. Benchmark raised their target price on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their price objective on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, DA Davidson began coverage on IonQ in a report on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, IonQ presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

IonQ 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.