20,361 Shares in IonQ, Inc. (NYSE:IONQ) Bought by Friedenthal Financial

Friedenthal Financial purchased a new position in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,361 shares of the company’s stock, valued at approximately $850,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after buying an additional 480 shares during the period. City State Bank acquired a new stake in IonQ in the fourth quarter valued at approximately $36,000. Versant Capital Management Inc increased its holdings in shares of IonQ by 1,348.5% during the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after acquiring an additional 890 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of IonQ during the fourth quarter worth approximately $42,000. Finally, Arizona State Retirement System lifted its holdings in shares of 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 in the last quarter. 41.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson started coverage on shares of IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC boosted their price objective on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark raised their target price on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Craig Hallum lifted their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling at IonQ

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the transaction, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Rima Alameddine sold 9,875 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $11.72, for a total value of $115,735.00. Following the sale, the executive now owns 638,908 shares in the company, valued at approximately $7,488,001.76. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,348 shares of company stock worth $2,181,123 over the last ninety days. 11.60% of the stock is currently owned by company insiders.

IonQ Trading Down 13.9 %

Shares of IONQ traded down $4.48 on Monday, reaching $27.85. 51,432,457 shares of the company’s stock traded hands, compared to its average volume of 49,852,938. The stock’s 50 day simple moving average is $34.12 and its two-hundred day simple moving average is $17.78. The stock has a market cap of $6.03 billion, a PE ratio of -34.38 and a beta of 2.49. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The business had revenue of $12.40 million for the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company’s revenue for the quarter was up 102.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.22) earnings per share. Analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

IonQ Profile

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.