Gladstone Institutional Advisory LLC Invests $434,000 in IonQ, Inc. (NYSE:IONQ)

Gladstone Institutional Advisory LLC bought a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, Holdings Channel.com reports. The firm bought 10,400 shares of the company’s stock, valued at approximately $434,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Advisors Inc. OK purchased a new stake in shares of IonQ in the fourth quarter worth about $18,976,000. UNICOM Systems Inc. purchased a new stake in shares of IonQ in the fourth quarter worth about $18,106,000. Essex Financial Services Inc. lifted its stake in shares of IonQ by 68.0% in the fourth quarter. Essex Financial Services Inc. now owns 18,709 shares of the company’s stock worth $781,000 after acquiring an additional 7,571 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of IonQ in the fourth quarter worth about $92,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of IonQ in the fourth quarter worth about $94,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock worth $1,314,652 over the last quarter. 11.60% of the stock is owned by corporate insiders.

IonQ Stock Down 3.0 %

Shares of NYSE IONQ opened at $37.47 on Friday. The stock’s 50 day moving average price is $39.70 and its two-hundred day moving average price is $22.89. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The stock has a market capitalization of $8.11 billion, a P/E ratio of -46.26 and a beta of 2.40.

Analyst Ratings Changes

Several research analysts recently commented on the company. Craig Hallum boosted their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Benchmark boosted their price target on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. 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. DA Davidson assumed coverage on IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.