Milestone Asset Management LLC Trims Position in IonQ, Inc. (NYSE:IONQ)

Milestone Asset Management LLC decreased its holdings in IonQ, Inc. (NYSE:IONQ - Free Report) by 29.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,224 shares of the company's stock after selling 11,331 shares during the quarter. Milestone Asset Management LLC's holdings in IonQ were worth $1,137,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. City State Bank purchased a new position in IonQ in the 4th quarter valued at $36,000. Versant Capital Management Inc lifted 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 buying an additional 890 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in IonQ during the fourth quarter worth about $42,000. GAMMA Investing LLC grew its stake in IonQ by 73.2% during the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock valued at $47,000 after acquiring an additional 480 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in IonQ in the 3rd quarter valued at about $72,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Needham & Company LLC upped their price objective on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. DA Davidson began coverage on IonQ in a research note on Thursday, December 19th. They set a "buy" rating and a $50.00 target price for the company. Benchmark upped their price target on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Craig Hallum raised their price objective on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Insider Activity

In other news, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares in the company, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Rima Alameddine sold 21,337 shares of the firm's 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 sale, the executive now owns 571,321 shares of the company's stock, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,223 shares of company stock valued at $1,314,652. Company insiders own 11.60% of the company's stock.

IonQ Stock Down 0.8 %

IONQ traded down $0.31 on Thursday, reaching $39.23. The company had a trading volume of 10,489,816 shares, compared to its average volume of 37,213,969. The stock has a 50-day moving average price of $38.09 and a 200-day moving average price of $20.54. The stock has a market capitalization of $8.49 billion, a PE ratio of -48.65 and a beta of 2.43. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business had revenue of $12.40 million for the quarter, compared to analysts' expectations of $10.56 million. During the same quarter last year, the business posted ($0.22) earnings per share. The business's revenue was up 102.1% on a year-over-year basis. As a group, analysts expect that IonQ, Inc. will post -0.86 earnings per share 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.