Capital Advisors Inc. OK Makes New Investment in IonQ, Inc. (NYSE:IONQ)

Capital Advisors Inc. OK acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 454,304 shares of the company’s stock, valued at approximately $18,976,000.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of IonQ during the fourth quarter worth about $34,000. City State Bank acquired a new stake in IonQ in the fourth quarter valued at about $36,000. Versant Capital Management Inc lifted its position in IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares during the period. Spire Wealth Management lifted its position in IonQ by 406.3% in the fourth quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after purchasing an additional 772 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in IonQ in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IONQ. Benchmark raised their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum lifted their price target on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group lifted their price target on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, DA Davidson initiated coverage on shares of IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Insider Buying and Selling at IonQ

In other news, CRO Rima Alameddine sold 21,337 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock valued at $1,314,652 in the last quarter. Company insiders own 11.60% of the company’s stock.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $37.74 on Wednesday. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of -46.59 and a beta of 2.40. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The company has a 50 day moving average price of $39.46 and a 200 day moving average price of $22.46.

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.