Capital Advisors Inc. OK Acquires New Position in IonQ, Inc. (NYSE:IONQ)

Capital Advisors Inc. OK purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 454,304 shares of the company’s stock, valued at approximately $18,976,000. Capital Advisors Inc. OK owned about 0.21% of IonQ at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UNICOM Systems Inc. bought a new stake in shares of IonQ during the fourth quarter valued at approximately $18,106,000. Essex Financial Services Inc. raised its stake in IonQ by 68.0% during the fourth quarter. Essex Financial Services Inc. now owns 18,709 shares of the company’s stock valued at $781,000 after buying an additional 7,571 shares during the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in IonQ during the fourth quarter valued at $92,000. Newbridge Financial Services Group Inc. purchased a new position in IonQ during the fourth quarter valued at $94,000. Finally, Stephens Inc. AR purchased a new position in IonQ during the fourth quarter valued at $936,000. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IONQ. Needham & Company LLC boosted 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 upped 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. Craig Hallum upped 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. The Goldman Sachs Group upped their price target on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, DA Davidson initiated coverage on IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

IonQ Trading Down 8.1 %

NYSE IONQ opened at $37.74 on Wednesday. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The stock has a 50-day moving average of $39.46 and a 200 day moving average of $22.46. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of -46.59 and a beta of 2.40.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction on Wednesday, December 11th. The shares were 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 owns 926,114 shares in the company, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,223 shares of company stock worth $1,314,652. Corporate insiders own 11.60% of the company’s stock.

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.