Wealth Management Partners LLC Acquires New Shares in IonQ, Inc. (NYSE:IONQ)

Wealth Management Partners LLC bought a new position in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, HoldingsChannel reports. The fund bought 5,600 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds have also bought and sold shares of the business. Wealthcare Advisory Partners LLC bought a new position in IonQ during the fourth quarter valued at approximately $215,000. Lauer Wealth LLC purchased a new position in shares of IonQ in the 4th quarter worth $247,000. Sovereign Financial Group Inc. boosted its stake in shares of IonQ by 13.3% in the 4th quarter. Sovereign Financial Group Inc. now owns 34,466 shares of the company’s stock worth $1,440,000 after buying an additional 4,044 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of IonQ in the fourth quarter worth $835,000. Finally, Friedenthal Financial purchased a new stake in IonQ during the fourth quarter valued at $850,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Price Performance

IONQ opened at $38.96 on Monday. The company has a 50 day simple moving average of $35.80 and a two-hundred day simple moving average of $18.70. The firm has a market cap of $8.43 billion, a P/E ratio of -48.09 and a beta of 2.43. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74.

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

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 22,875 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.75, for a total transaction of $406,031.25. Following the completion of the transaction, the executive now directly owns 592,658 shares of the company’s stock, valued at approximately $10,519,679.50. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares in the company, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,098 shares of company stock valued at $1,909,323 over the last 90 days. Company insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IONQ shares. DA Davidson began coverage on IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 price target for the company. The Goldman Sachs Group boosted their target price 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. Needham & Company LLC increased their price target 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. Craig Hallum boosted their price objective 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. Finally, Benchmark upped their price objective on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average 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.