Gagnon Advisors LLC Sells 52,786 Shares of IonQ, Inc. (NYSE:IONQ)

Gagnon Advisors LLC reduced its position in IonQ, Inc. (NYSE:IONQFree Report) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,589 shares of the company’s stock after selling 52,786 shares during the period. IonQ makes up 2.8% of Gagnon Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Gagnon Advisors LLC’s holdings in IonQ were worth $4,410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IONQ. City State Bank acquired a new stake in shares of IonQ in the 4th quarter worth about $36,000. Versant Capital Management Inc boosted its position 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 during the last quarter. Future Financial Wealth Managment LLC bought a new stake in IonQ during the fourth quarter worth $42,000. GAMMA Investing LLC raised its position 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 last quarter. Finally, nVerses Capital LLC bought a new position in IonQ during the 3rd quarter valued at $72,000. Institutional investors own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

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

Check Out Our Latest Analysis on IONQ

Insider Activity

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction that occurred on 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 $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by company insiders.

IonQ Trading Up 2.0 %

IONQ opened at $39.58 on Friday. The firm has a 50-day moving average price of $38.22 and a 200-day moving average price of $20.67. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74.

IonQ (NYSE:IONQGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same period in the previous year, the business earned ($0.22) earnings per share. IonQ’s revenue was up 102.1% on a year-over-year basis. Equities research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

IonQ Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding IONQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IonQ, Inc. (NYSE:IONQFree Report).

Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

Receive News & Ratings for IonQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IonQ and related companies with MarketBeat.com's FREE daily email newsletter.