MONECO Advisors LLC Invests $244,000 in IonQ, Inc. (NYSE:IONQ)

MONECO Advisors LLC bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,830 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allworth Financial LP raised its position in shares of IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock worth $116,000 after acquiring an additional 363 shares in the last quarter. 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. Pathway Financial Advisers LLC purchased a new position in IonQ during the 4th quarter worth approximately $26,000. Spire Wealth Management grew its stake in IonQ by 406.3% during the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock worth $40,000 after buying an additional 772 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in IonQ during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Trading Down 4.5 %

Shares of IONQ stock opened at $29.83 on Wednesday. The business’s 50 day moving average is $39.40 and its two-hundred day moving average is $24.59. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market capitalization of $6.46 billion, a P/E ratio of -36.83 and a beta of 2.41.

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 9,780 shares of IonQ 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 directly owns 926,114 shares in the company, valued at $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares in the company, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IONQ has been the topic of a number of research reports. Needham & Company LLC raised their price target on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Craig Hallum raised 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. DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average 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.