Entropy Technologies LP bought a new position 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 bought 10,054 shares of the company's stock, valued at approximately $420,000.
Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of IonQ in the fourth quarter worth approximately $34,000. City State Bank purchased a new position in IonQ in the fourth quarter valued at approximately $36,000. Versant Capital Management Inc raised its holdings in 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 buying an additional 890 shares during the period. Spire Wealth Management raised its holdings in IonQ by 406.3% in the fourth quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $40,000 after buying an additional 772 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in IonQ in the fourth quarter valued at approximately $42,000. 41.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
IONQ has been the topic of several research reports. Benchmark raised their price target on shares of IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Craig Hallum lifted 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 lifted their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Needham & Company LLC lifted 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. Finally, DA Davidson began 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.
Read Our Latest Research Report on IONQ
IonQ Price Performance
Shares of NYSE:IONQ traded down $1.18 during midday trading on Friday, reaching $37.47. The company had a trading volume of 8,150,097 shares, compared to its average volume of 27,816,476. The stock's fifty day moving average price is $39.69 and its 200-day moving average price is $23.20. The stock has a market capitalization of $8.11 billion, a P/E ratio of -46.26 and a beta of 2.40. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.
Insider Buying and Selling
In related news, 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 owns 414,363 shares in the company, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,223 shares of company stock worth $1,314,652. Insiders own 11.60% of the company's stock.
About IonQ
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Free Report)
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.
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