Magnus Financial Group LLC Buys Shares of 6,200 IonQ, Inc. (NYSE:IONQ)

Magnus Financial Group LLC bought a new position in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,200 shares of the company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IONQ. Daymark Wealth Partners LLC raised its holdings in shares of 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 purchasing an additional 1,100 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in IonQ by 625.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 18,764 shares of the company’s stock valued at $784,000 after buying an additional 16,177 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of IonQ in the fourth quarter worth about $84,000. Wealth Management Partners LLC bought a new stake in shares of IonQ during the 4th quarter worth about $234,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of IonQ during the 4th quarter valued at about $215,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IonQ

In related news, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the sale, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Rima Alameddine sold 22,875 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.75, for a total transaction of $406,031.25. Following the transaction, the executive now owns 592,658 shares of the company’s stock, valued at approximately $10,519,679.50. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,098 shares of company stock worth $1,720,683 over the last three months. Company insiders own 11.60% of the company’s stock.

IonQ Trading Down 7.7 %

Shares of IONQ stock opened at $41.82 on Thursday. The firm has a market capitalization of $9.05 billion, a P/E ratio of -51.63 and a beta of 2.43. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The firm’s fifty day simple moving average is $36.55 and its 200 day simple moving average is $19.27.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $12.40 million during the quarter, compared to analyst estimates of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business’s revenue for the quarter was up 102.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.22) earnings per share. Equities research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IONQ has been the subject of several analyst reports. DA Davidson began coverage on IonQ in a report on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price for the company. Craig Hallum boosted their price objective 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. Benchmark raised their target price on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.