EAM Investors LLC Makes New $6 Million Investment in IonQ, Inc. (NYSE:IONQ)

EAM Investors LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, Holdings Channel reports. The fund bought 143,608 shares of the company’s stock, valued at approximately $5,999,000. IonQ accounts for about 0.9% of EAM Investors LLC’s investment portfolio, making the stock its 6th largest holding.

Several other institutional investors also recently modified their holdings of IONQ. Gamco Investors INC. ET AL acquired a new stake in shares of IonQ during the fourth quarter worth $1,031,000. XTX Topco Ltd acquired a new position in shares of IonQ during the 4th quarter worth about $1,544,000. Mariner LLC increased its stake in shares of IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company’s stock valued at $2,276,000 after acquiring an additional 350 shares during the last quarter. Savvy Advisors Inc. acquired a new stake in shares of IonQ in the 4th quarter valued at approximately $207,000. Finally, Summit Investment Advisors Inc. boosted its stake in IonQ by 6.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 20,715 shares of the company’s stock worth $865,000 after acquiring an additional 1,278 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. DA Davidson lowered their price objective on shares of IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group lifted their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Benchmark reissued a “buy” rating and set a $45.00 target price on shares of IonQ in a research note on Monday, March 31st. Finally, 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 note on Friday, December 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.80.

IonQ Price Performance

Shares of IonQ stock opened at $25.41 on Wednesday. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -31.37 and a beta of 2.50. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The stock’s 50-day moving average is $26.63 and its 200-day moving average is $28.45.

Insider Activity at IonQ

In related news, Director William F. Scannell bought 93,066 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares in the company, valued at $2,945,375.07. The trade was a 221.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the transaction, the executive now directly owns 592,615 shares of the company’s stock, valued at $12,563,438. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by insiders.

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.