MONECO Advisors LLC Invests $244,000 in IonQ, Inc. (NYSE:IONQ)

MONECO Advisors LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,830 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds have also recently added to or reduced their stakes in IONQ. Creative Planning raised its stake in IonQ by 47.8% in the 3rd quarter. Creative Planning now owns 24,364 shares of the company’s stock valued at $213,000 after purchasing an additional 7,878 shares during the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in IonQ in the 3rd quarter valued at $3,749,000. Ground Swell Capital LLC acquired a new position in IonQ in the 3rd quarter valued at $110,000. PDS Planning Inc purchased a new stake in IonQ in the 3rd quarter valued at $101,000. Finally, Verity Asset Management Inc. grew its holdings in IonQ by 12.4% in the 3rd quarter. Verity Asset Management Inc. now owns 33,898 shares of the company’s stock valued at $296,000 after buying an additional 3,736 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the transaction, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC upped their target price on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. Benchmark upped their target price on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. DA Davidson upgraded IonQ to a “strong-buy” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group upped their target price on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $33.00.

IonQ Trading Down 4.5 %

NYSE IONQ opened at $29.83 on Wednesday. The stock has a market cap of $6.46 billion, a PE ratio of -36.83 and a beta of 2.41. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The stock has a fifty day simple moving average of $39.40 and a 200-day simple moving average of $24.59.

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.