Hussman Strategic Advisors Inc. Lowers Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Hussman Strategic Advisors Inc. reduced its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 92.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,500 shares of the company's stock after selling 388,500 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in IonQ were worth $1,316,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC purchased a new position in shares of IonQ during the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC purchased a new position in IonQ during the 4th quarter valued at $34,000. City State Bank bought a new position in IonQ in the 4th quarter valued at $36,000. Hemington Wealth Management purchased a new stake in IonQ in the fourth quarter worth $37,000. Finally, Versant Capital Management Inc lifted its position in shares of IonQ by 1,348.5% during 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 during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts 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 report on Friday, January 10th. Craig Hallum raised their target price on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Needham & Company LLC upped their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. DA Davidson raised shares of IonQ to a "strong-buy" rating in a report on Thursday. Finally, Benchmark boosted their price objective 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. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $33.00.

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 9,780 shares of the firm's stock in a transaction on Wednesday, December 11th. The shares were 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 trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company's stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by insiders.

IonQ Trading Down 6.0 %

Shares of IONQ stock traded down $2.01 during trading hours on Friday, reaching $31.74. 14,998,282 shares of the company's stock were exchanged, compared to its average volume of 27,457,205. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The stock's 50 day moving average is $39.93 and its 200-day moving average is $23.85. The company has a market cap of $6.87 billion, a price-to-earnings ratio of -39.18 and a beta of 2.40.

IonQ Company 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.