Proficio Capital Partners LLC Invests $2.35 Million in IonQ, Inc. (NYSE:IONQ)

Proficio Capital Partners LLC bought a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 56,306 shares of the company's stock, valued at approximately $2,352,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IONQ. LMR Partners LLP purchased a new position in IonQ in the third quarter valued at about $874,000. Prospera Financial Services Inc grew its stake in IonQ by 196.1% in the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock valued at $337,000 after purchasing an additional 25,502 shares during the last quarter. Moors & Cabot Inc. purchased a new position in IonQ in the third quarter valued at about $92,000. Intech Investment Management LLC purchased a new stake in shares of IonQ during the third quarter worth about $381,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock worth $14,107,000 after acquiring an additional 135,851 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Stock Performance

NYSE IONQ traded up $1.12 during trading hours on Friday, reaching $22.26. The stock had a trading volume of 21,882,198 shares, compared to its average volume of 14,605,851. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The stock has a market cap of $4.96 billion, a P/E ratio of -27.47 and a beta of 2.50. The stock has a fifty day moving average of $32.43 and a 200 day moving average of $26.27.

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Wall Street Analyst Weigh In

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

Insider Buying and Selling at IonQ

In other IonQ news, Director William F. Scannell bought 93,066 shares of IonQ stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the purchase, the director now directly owns 135,047 shares in the company, valued at $2,945,375.07. This represents a 221.69 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the company's stock in a transaction that occurred 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 transaction, the executive now directly owns 592,615 shares of the company's stock, valued at approximately $12,563,438. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by company insiders.

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.