Veracity Capital LLC Purchases Shares of 5,508 IonQ, Inc. (NYSE:IONQ)

Veracity Capital LLC acquired a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,508 shares of the company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. City State Bank acquired a new stake in IonQ during the 4th quarter worth about $36,000. Versant Capital Management Inc grew its holdings in IonQ by 1,348.5% during the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after acquiring an additional 890 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in IonQ during the fourth quarter worth about $42,000. GAMMA Investing LLC raised its position in IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after acquiring an additional 480 shares in the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new position in IonQ in the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Buying and Selling at IonQ

In related news, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction 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 approximately $12,319,011.99. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 22,875 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.75, for a total transaction of $406,031.25. Following the completion of the sale, the executive now owns 592,658 shares of the company’s stock, valued at approximately $10,519,679.50. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,098 shares of company stock valued at $1,720,683 over the last quarter. 11.60% of the stock is currently owned by insiders.

IonQ Stock Performance

NYSE:IONQ opened at $40.86 on Friday. The stock has a market capitalization of $8.84 billion, a PE ratio of -50.44 and a beta of 2.43. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The company has a fifty day moving average of $37.16 and a two-hundred day moving average of $19.58.

IonQ (NYSE:IONQ) last released its 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). The company had revenue of $12.40 million for the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm’s revenue for the quarter was up 102.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.22) EPS. Research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Analysts Set New Price Targets

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