Strategic Advocates LLC Takes $863,000 Position in IonQ, Inc. (NYSE:IONQ)

Strategic Advocates LLC acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,657 shares of the company’s stock, valued at approximately $863,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IONQ. GAMMA Investing LLC boosted its position in IonQ by 73.2% in the fourth 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 last quarter. City State Bank acquired a new position in shares of IonQ in the 4th quarter valued at $36,000. Versant Capital Management Inc boosted its stake 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. Future Financial Wealth Managment LLC acquired a new position in IonQ in the 4th quarter worth about $42,000. Finally, Daymark Wealth Partners LLC boosted its position in IonQ by 9.2% during the fourth quarter. Daymark Wealth Partners LLC now owns 13,100 shares of the company’s stock worth $547,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Stock Performance

Shares of NYSE IONQ opened at $38.88 on Friday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The stock’s 50-day moving average is $38.09 and its two-hundred day moving average is $20.54.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share 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. During the same quarter in the prior year, the firm posted ($0.22) EPS. The firm’s quarterly revenue was up 102.1% compared to the same quarter last year. Sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Transactions at IonQ

In related news, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 926,114 shares in the company, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,223 shares of company stock worth $1,314,652. Corporate insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.