Sageworth Trust Co Takes $418,000 Position in IonQ, Inc. (NYSE:IONQ)

Sageworth Trust Co acquired a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $418,000.

Several other large investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in IonQ by 16.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 115,782 shares of the company’s stock worth $814,000 after purchasing an additional 16,642 shares during the last quarter. Algert Global LLC acquired a new stake in shares of IonQ during the 2nd quarter worth approximately $126,000. Handelsbanken Fonder AB raised its stake in shares of IonQ by 33.1% during the third quarter. Handelsbanken Fonder AB now owns 69,200 shares of the company’s stock worth $605,000 after buying an additional 17,200 shares during the last quarter. Carnegie Investment Counsel acquired a new position in IonQ in the third quarter valued at approximately $5,036,000. Finally, Creative Planning boosted its stake in IonQ by 47.8% in the third quarter. Creative Planning now owns 24,364 shares of the company’s stock valued at $213,000 after acquiring an additional 7,878 shares during the last quarter. Institutional investors and hedge funds 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 shares were sold at an average price of $29.72, for a total value 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 represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is currently owned by corporate insiders.

IonQ Trading Down 1.8 %

NYSE:IONQ opened at $40.55 on Friday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The stock has a 50-day moving average price of $39.20 and a two-hundred day moving average price of $21.81. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of -50.06 and a beta of 2.41.

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

Wall Street Analysts Forecast Growth

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

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.