13,566 Shares in IonQ, Inc. (NYSE:IONQ) Purchased by Visionary Wealth Advisors

Visionary Wealth Advisors acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 13,566 shares of the company’s stock, valued at approximately $567,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IONQ. Wealthcare Advisory Partners LLC acquired a new stake in shares of IonQ during the 4th quarter worth about $215,000. Sugar Maple Asset Management LLC purchased a new position in IonQ during the 4th quarter valued at about $84,000. Nisa Investment Advisors LLC boosted its holdings in IonQ by 625.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,764 shares of the company’s stock valued at $784,000 after acquiring an additional 16,177 shares during the period. Daymark Wealth Partners LLC boosted its holdings in IonQ by 9.2% during the 4th quarter. Daymark Wealth Partners LLC now owns 13,100 shares of the company’s stock valued at $547,000 after acquiring an additional 1,100 shares during the period. Finally, Magnus Financial Group LLC purchased a new position in IonQ during the 4th quarter valued at about $259,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. DA Davidson lowered their target price on IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a report on Monday, April 14th. Needham & Company LLC lowered their target price on IonQ from $54.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Morgan Stanley raised their target price on IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Finally, Benchmark lowered their target price on IonQ from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Insider Transactions at IonQ

In other news, CFO Thomas G. Kramer sold 11,712 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the sale, the chief financial officer now owns 944,510 shares of the company’s stock, valued at approximately $17,539,550.70. This trade represents a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the sale, the executive now directly owns 592,615 shares in the company, valued at $12,563,438. This trade represents a 0.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. Corporate insiders own 11.60% of the company’s stock.

IonQ Stock Performance

Shares of IONQ opened at $35.34 on Wednesday. The stock has a 50-day simple moving average of $26.77 and a 200-day simple moving average of $31.43. The stock has a market capitalization of $7.88 billion, a PE ratio of -43.63 and a beta of 2.46. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. Analysts predict that IonQ, Inc. will post -0.86 EPS for the current year.

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.