Future Financial Wealth Managment LLC Takes Position in IonQ, Inc. (NYSE:IONQ)

Future Financial Wealth Managment LLC bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,000 shares of the company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. City State Bank purchased a new stake in shares of IonQ in the 4th quarter valued at approximately $36,000. Everence Capital Management Inc. purchased a new position in shares of IonQ in the 4th quarter valued at about $216,000. GAMMA Investing LLC raised its position in shares of IonQ by 73.2% during the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock worth $47,000 after acquiring an additional 480 shares in the last quarter. Versant Capital Management Inc raised its position in shares of IonQ by 1,348.5% during the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after acquiring an additional 890 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new position in IonQ in the third quarter valued at approximately $91,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IONQ has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday. DA Davidson started coverage on IonQ in a report on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price for the company. Benchmark boosted their price objective on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Craig Hallum increased their price target on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Needham & Company LLC lifted their price objective on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 9,875 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total value of $115,735.00. Following the completion of the transaction, the executive now directly owns 638,908 shares in the company, valued at approximately $7,488,001.76. The trade was a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the company’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 $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,348 shares of company stock worth $2,181,123. Insiders own 11.60% of the company’s stock.

IonQ Price Performance

Shares of IONQ stock traded down $4.14 during trading hours on Monday, reaching $28.19. 44,787,596 shares of the company’s stock were exchanged, compared to its average volume of 49,152,855. The company’s 50 day moving average is $34.12 and its two-hundred day moving average is $17.78. The company has a market cap of $6.10 billion, a P/E ratio of -34.80 and a beta of 2.49. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

IonQ (NYSE:IONQ) last issued its 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). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million for the quarter, compared to analysts’ expectations of $10.56 million. IonQ’s revenue for the quarter was up 102.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. As a group, analysts predict 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.