Main Management ETF Advisors LLC Invests $1.87 Million in IonQ, Inc. (NYSE:IONQ)

Main Management ETF Advisors LLC purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 213,400 shares of the company's stock, valued at approximately $1,865,000. Main Management ETF Advisors LLC owned about 0.10% of IonQ as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in IonQ by 3.6% in the 2nd 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 during the period. Verity Asset Management Inc. raised its stake in shares of IonQ by 12.4% in the third quarter. Verity Asset Management Inc. now owns 33,898 shares of the company's stock worth $296,000 after buying an additional 3,736 shares during the period. HighTower Advisors LLC lifted its position in shares of IonQ by 29.3% during the 3rd quarter. HighTower Advisors LLC now owns 18,938 shares of the company's stock valued at $166,000 after buying an additional 4,288 shares in the last quarter. Quest Partners LLC grew its stake in shares of IonQ by 4,824.2% during the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company's stock valued at $46,000 after acquiring an additional 6,368 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in IonQ by 40.6% in the 2nd quarter. Principal Financial Group Inc. now owns 26,801 shares of the company's stock worth $188,000 after acquiring an additional 7,744 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company's stock.

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Analyst Ratings Changes

IONQ has been the topic of several analyst reports. Craig Hallum lifted their price target on shares of IonQ from $15.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. The Goldman Sachs Group dropped their target price on shares of IonQ from $11.50 to $8.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Needham & Company LLC upped their price objective on IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

Insider Buying and Selling at IonQ

In other news, CRO Rima Alameddine sold 22,875 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.75, for a total value of $406,031.25. Following the sale, the executive now directly owns 592,658 shares in the company, valued at $10,519,679.50. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 66,000 shares of company stock worth $972,331 in the last quarter. 11.60% of the stock is owned by corporate insiders.

IonQ Price Performance

Shares of IONQ stock traded up $2.02 during mid-day trading on Friday, hitting $37.97. The company had a trading volume of 19,783,603 shares, compared to its average volume of 33,296,838. The stock's 50 day moving average price is $19.71 and its 200-day moving average price is $11.82. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $38.45.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $12.40 million during the quarter, compared to analysts' expectations of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm's revenue for the quarter was up 102.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) EPS. On average, equities analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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.