Friedenthal Financial Purchases Shares of 20,361 IonQ, Inc. (NYSE:IONQ)

Friedenthal Financial bought a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,361 shares of the company's stock, valued at approximately $850,000.

A number of other institutional investors have also recently added to or reduced their stakes in IONQ. Principal Financial Group Inc. boosted its stake in shares of IonQ by 40.6% in the 2nd quarter. Principal Financial Group Inc. now owns 26,801 shares of the company's stock valued at $188,000 after purchasing an additional 7,744 shares during the last quarter. Rhumbline Advisers grew its stake in IonQ by 13.5% during the second quarter. Rhumbline Advisers now owns 295,918 shares of the company's stock worth $2,080,000 after purchasing an additional 35,158 shares during the period. Arizona State Retirement System increased its holdings in IonQ by 3.6% in the second quarter. Arizona State Retirement System now owns 49,550 shares of the company's stock worth $348,000 after purchasing an additional 1,731 shares in the last quarter. Quest Partners LLC lifted its stake in 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 buying an additional 6,368 shares during the period. Finally, Redwood Wealth Management Group LLC bought a new position in shares of IonQ during the 2nd quarter worth approximately $67,000. 41.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. 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. 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 note on Friday, December 20th. Benchmark increased their price objective on shares of 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 boosted their target price on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, DA Davidson assumed coverage on shares of IonQ in a report 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.00.

IonQ Stock Down 13.9 %

IonQ stock traded down $4.48 during mid-day trading on Monday, reaching $27.85. 52,132,952 shares of the company's stock were exchanged, compared to its average volume of 50,255,398. The business's fifty day simple moving average is $34.39 and its 200 day simple moving average is $17.93. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The firm has a market capitalization of $6.03 billion, a PE ratio of -34.38 and a beta of 2.49.

IonQ (NYSE:IONQ - Get Free Report) last released 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 return on equity of 36.82% and a negative net margin of 457.85%. The company's revenue for the quarter was up 102.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. On average, sell-side analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the transaction, the executive now owns 571,321 shares in the company, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,348 shares of company stock valued at $2,181,123 in the last three months. Company insiders own 11.60% of the company's stock.

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.