Moors & Cabot Inc. Buys 20,675 Shares of IonQ, Inc. (NYSE:IONQ)

Moors & Cabot Inc. boosted its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 196.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,175 shares of the company's stock after acquiring an additional 20,675 shares during the period. Moors & Cabot Inc.'s holdings in IonQ were worth $1,302,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in shares of IonQ during the third quarter valued at about $874,000. Prospera Financial Services Inc lifted its position in IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock valued at $337,000 after acquiring an additional 25,502 shares in the last quarter. Intech Investment Management LLC acquired a new position in IonQ during the 3rd quarter valued at about $381,000. Charles Schwab Investment Management Inc. increased its holdings in IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock worth $14,107,000 after purchasing an additional 135,851 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of IonQ by 15.6% in the third quarter. D.A. Davidson & CO. now owns 94,568 shares of the company's stock worth $827,000 after purchasing an additional 12,788 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the sale, the executive now directly owns 592,615 shares of the company's stock, valued at $12,563,438. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas G. Kramer sold 11,712 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the transaction, the chief financial officer now directly owns 944,510 shares in the company, valued at $17,539,550.70. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. Company insiders own 11.60% of the company's stock.

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IonQ Price Performance

Shares of NYSE IONQ traded down $0.16 during mid-day trading on Monday, reaching $24.84. 30,477,281 shares of the company's stock were exchanged, compared to its average volume of 14,341,915. The firm has a 50-day moving average price of $34.02 and a two-hundred day moving average price of $26.00. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -30.67 and a beta of 2.50. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IONQ shares. Benchmark cut their target price on IonQ from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. DA Davidson upgraded shares of IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and set a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. Craig Hallum boosted their price target on shares of IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Finally, The Goldman Sachs Group increased their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IonQ presently has a consensus rating of "Buy" and an average price target of $44.80.

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.