Gladstone Institutional Advisory LLC Takes Position in IonQ, Inc. (NYSE:IONQ)

Gladstone Institutional Advisory LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,400 shares of the company's stock, valued at approximately $434,000.

A number of other large investors have also added to or reduced their stakes in IONQ. Golden State Wealth Management LLC purchased a new stake in IonQ during the fourth quarter worth about $34,000. City State Bank purchased a new stake in IonQ during the fourth quarter worth about $36,000. Versant Capital Management Inc increased its stake 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 worth $40,000 after purchasing an additional 890 shares in the last quarter. Spire Wealth Management raised its position in shares of 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 purchasing an additional 772 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of IonQ in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IONQ. DA Davidson started coverage on shares of IonQ in a research report on Thursday, December 19th. They issued a "buy" rating and a $50.00 price target on the stock. Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, December 20th. 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. The Goldman Sachs Group increased their price target 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, Benchmark raised their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, IonQ has an average rating of "Moderate Buy" and a consensus target price of $33.00.

IonQ Trading Down 11.4 %

IONQ traded down $4.29 during trading hours on Tuesday, hitting $33.17. The company's stock had a trading volume of 14,082,553 shares, compared to its average volume of 28,352,045. The business's 50-day moving average price is $39.76 and its 200-day moving average price is $23.52. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -40.93 and a beta of 2.40.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the transaction, the executive now directly owns 571,321 shares in the company, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 926,114 shares of the company's stock, valued at $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock valued at $1,314,652 over the last three months. 11.60% of the stock is owned by company 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.