Sugar Maple Asset Management LLC Invests $84,000 in IonQ, Inc. (NYSE:IONQ)

Sugar Maple Asset Management LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,000 shares of the company’s stock, valued at approximately $84,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. City State Bank acquired a new stake in IonQ in the 4th quarter valued at about $36,000. Versant Capital Management Inc grew its holdings in shares of IonQ by 1,348.5% during the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after buying an additional 890 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of IonQ in the 4th quarter valued at about $42,000. GAMMA Investing LLC increased its stake in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after buying an additional 480 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of IonQ during the fourth quarter worth $215,000. 41.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on IONQ shares. DA Davidson began coverage on shares of IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price for the company. Needham & Company LLC lifted their price target on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Benchmark lifted their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Craig Hallum upped their price objective on 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 12,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.72, for a total transaction of $188,640.00. Following the completion of the transaction, the executive now directly owns 615,533 shares of the company’s stock, valued at approximately $9,676,178.76. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,098 shares of company stock worth $1,909,323 in the last three months. Company insiders own 11.60% of the company’s stock.

IonQ Stock Performance

NYSE IONQ opened at $38.96 on Tuesday. The firm has a 50-day moving average of $35.80 and a 200-day moving average of $18.78. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

IonQ (NYSE:IONQ) last announced its quarterly earnings data 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 business had revenue of $12.40 million for the quarter, compared to the consensus estimate of $10.56 million. During the same quarter in the prior year, the company earned ($0.22) earnings per share. IonQ’s quarterly revenue was up 102.1% compared to the same quarter last year. As a group, sell-side analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

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.