IonQ, Inc. (NYSE:IONQ) Stake Trimmed by Verity Asset Management Inc.

Verity Asset Management Inc. lowered its stake in IonQ, Inc. (NYSE:IONQ) by 81.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,327 shares of the company’s stock after selling 27,571 shares during the quarter. Verity Asset Management Inc.’s holdings in IonQ were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. City State Bank purchased a new position in IonQ during the 4th quarter valued at about $36,000. Versant Capital Management Inc grew its stake in IonQ by 1,348.5% during the 4th 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. 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 valued at $40,000 after acquiring an additional 772 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in IonQ during the 4th quarter valued at about $42,000. Finally, Riggs Asset Managment Co. Inc. grew its stake in IonQ by 2,325.0% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 970 shares of the company’s stock valued at $43,000 after acquiring an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

IONQ opened at $41.98 on Wednesday. The business has a 50 day moving average price of $38.59 and a 200 day moving average price of $21.28. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The firm has a market cap of $9.08 billion, a P/E ratio of -51.82 and a beta of 2.41.

IonQ (NYSE:IONQ) last posted its earnings results 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 during the quarter, compared to analyst estimates of $10.56 million. During the same quarter last year, the firm posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 102.1% compared to the same quarter last year. As a group, analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. DA Davidson assumed coverage on IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 target price on the stock. The Goldman Sachs Group lifted their target price on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. Needham & Company LLC lifted their price target on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Benchmark lifted their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, IonQ has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Buying and Selling

In other IonQ 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 transaction, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at $27,524,108.08. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This 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 sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is currently owned by insiders.

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.