Wealth Management Partners LLC Buys New Shares in IonQ, Inc. (NYSE:IONQ)

Wealth Management Partners LLC purchased a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,600 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings 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 during the last quarter. City State Bank bought a new stake in IonQ in the 4th quarter worth $36,000. Versant Capital Management Inc increased 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 shares of IonQ during the fourth quarter valued at about $42,000. Finally, Verity Asset Management Inc. boosted its holdings in shares of IonQ by 12.4% during the third quarter. Verity Asset Management Inc. now owns 33,898 shares of the company’s stock worth $296,000 after purchasing an additional 3,736 shares during the period. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IONQ. Benchmark boosted their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. DA Davidson started coverage on IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 price target for the company. 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 report on Friday, December 20th. Finally, Needham & Company LLC upped their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, IonQ presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

IonQ Stock Down 6.2 %

NYSE IONQ opened at $38.96 on Monday. The firm has a market capitalization of $8.43 billion, a PE ratio of -48.09 and a beta of 2.43. The stock’s 50 day moving average is $35.80 and its 200 day moving average is $18.70. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The business had revenue of $12.40 million for 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% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. On average, research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Buying and Selling

In other news, CRO Rima Alameddine sold 22,875 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.75, for a total value of $406,031.25. Following the sale, the executive now directly owns 592,658 shares of the company’s stock, valued at approximately $10,519,679.50. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction dated Wednesday, December 11th. The stock was 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 of the company’s stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,098 shares of company stock valued at $1,909,323 over the last quarter. Corporate insiders own 11.60% of the company’s stock.

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.