Miracle Mile Advisors LLC Makes New Investment in IonQ, Inc. (NYSE:IONQ)

Miracle Mile Advisors LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the company's stock, valued at approximately $835,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. City State Bank acquired a new position in shares of IonQ during the 4th quarter worth about $36,000. Versant Capital Management Inc increased its stake in 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 buying an additional 890 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of IonQ during the fourth quarter valued at approximately $42,000. Quest Partners LLC lifted its position in shares of IonQ by 4,824.2% in the second quarter. Quest Partners LLC now owns 6,500 shares of the company's stock valued at $46,000 after acquiring an additional 6,368 shares in the last quarter. Finally, GAMMA Investing LLC boosted 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 acquiring an additional 480 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Trading Up 5.7 %

IonQ stock traded up $2.26 during midday trading on Thursday, hitting $41.65. 46,090,343 shares of the stock were exchanged, compared to its average volume of 51,709,930. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of -51.42 and a beta of 2.43. The stock's 50-day simple moving average is $35.13 and its 200 day simple moving average is $18.23. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business had revenue of $12.40 million during the quarter, compared to analysts' expectations of $10.56 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. The company's revenue was up 102.1% on a year-over-year basis. Equities analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IONQ shares. Needham & Company LLC raised their price objective on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Benchmark raised 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. Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. The Goldman Sachs Group raised their target price 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 assumed coverage on IonQ in a research report on Thursday, December 19th. They issued a "buy" rating and a $50.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, IonQ currently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Insider Buying and Selling at IonQ

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the company's 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now directly owns 414,363 shares of the company's stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,473 shares of company stock valued at $2,065,388 over the last 90 days. 11.60% of the stock is owned by insiders.

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.