Baader Bank Aktiengesellschaft Purchases Shares of 5,600 IonQ, Inc. (NYSE:IONQ)

Baader Bank Aktiengesellschaft acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 4th quarter, Holdings Channel reports. The fund acquired 5,600 shares of the company’s stock, valued at approximately $234,000.

Other large investors have also recently made changes to their positions in the company. Smith Group Asset Management LLC purchased a new stake in IonQ in the fourth quarter valued at approximately $627,000. BOCHK Asset Management Ltd purchased a new stake in shares of IonQ in the 4th quarter valued at $167,000. Kennedy Investment Group acquired a new stake in shares of IonQ in the fourth quarter worth $343,000. Perigon Wealth Management LLC purchased a new position in shares of IonQ during the fourth quarter worth $360,000. Finally, KBC Group NV lifted its position in IonQ by 15.7% during the fourth quarter. KBC Group NV now owns 8,542 shares of the company’s stock valued at $357,000 after purchasing an additional 1,157 shares during the period. 41.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IONQ shares. The Goldman Sachs Group increased their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Benchmark lifted their price target on 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 stock a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC lifted 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. Finally, DA Davidson initiated coverage on shares of IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

IonQ Price Performance

Shares of IONQ stock opened at $39.58 on Friday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The company has a market cap of $8.56 billion, a price-to-earnings ratio of -48.86 and a beta of 2.43. The stock has a 50 day simple moving average of $38.22 and a 200-day simple moving average of $20.67.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share 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 for the quarter, compared to analyst estimates of $10.56 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The business’s revenue was up 102.1% on a year-over-year basis. Analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the transaction, the executive now directly owns 571,321 shares of the company’s stock, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction 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 sale, the chief financial officer now directly owns 926,114 shares in the company, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by corporate insiders.

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.