Strategic Financial Concepts LLC Makes New $1.75 Million Investment in IonQ, Inc. (NYSE:IONQ)

Strategic Financial Concepts LLC purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 41,770 shares of the company’s stock, valued at approximately $1,745,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in IONQ. GAMMA Investing LLC increased its position in shares of IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock worth $47,000 after purchasing an additional 480 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in IonQ in the fourth quarter valued at about $26,000. Spire Wealth Management raised its stake in IonQ by 406.3% in the fourth quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after buying an additional 772 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of IonQ during the fourth quarter worth about $34,000. Finally, City State Bank purchased a new stake in shares of IonQ during the fourth quarter worth about $36,000. 41.42% of the stock is currently owned by institutional investors.

Insider Transactions at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the business’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 in the company, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock valued at $1,314,652 over the last 90 days. Corporate insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

IONQ has been the subject of several research analyst reports. 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 report on Friday, January 10th. Needham & Company LLC raised their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. DA Davidson initiated 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. Benchmark raised their target price on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

IonQ Stock Down 3.0 %

Shares of IONQ opened at $37.47 on Tuesday. The stock’s 50-day moving average price is $39.69 and its 200-day moving average price is $23.31. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of -46.26 and a beta of 2.40. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74.

IonQ Company 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.