Gamco Investors INC. ET AL Takes $1.03 Million Position in IonQ, Inc. (NYSE:IONQ)

Gamco Investors INC. ET AL acquired a new position in IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 24,675 shares of the company's stock, valued at approximately $1,031,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in IonQ in the 4th quarter worth $1,544,000. Mariner LLC grew its position in shares of IonQ by 0.6% during the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after purchasing an additional 350 shares in the last quarter. Savvy Advisors Inc. bought a new stake in IonQ during the 4th quarter valued at approximately $207,000. Summit Investment Advisors Inc. boosted its stake in IonQ by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 20,715 shares of the company's stock worth $865,000 after purchasing an additional 1,278 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of IonQ during the fourth quarter valued at approximately $239,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IONQ has been the subject of several research analyst reports. DA Davidson cut their price target on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. Benchmark restated a "buy" rating and issued a $45.00 target price on shares of IonQ in a report on Monday, March 31st. Finally, The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $41.80.

IonQ Stock Up 3.0 %

IONQ stock traded up $0.77 during trading on Wednesday, hitting $26.33. 9,181,679 shares of the company's stock traded hands, compared to its average volume of 15,870,986. The firm has a market capitalization of $5.87 billion, a P/E ratio of -32.51 and a beta of 2.50. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The business has a fifty day simple moving average of $25.22 and a two-hundred day simple moving average of $29.01.

Insider Activity

In related news, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of the sale, the executive now owns 592,615 shares of the company's stock, valued at $12,563,438. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William F. Scannell purchased 93,066 shares of IonQ stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. This represents a 221.69 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is currently owned by company insiders.

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.