Flaharty Asset Management LLC Buys 5,288 Shares of IonQ, Inc. (NYSE:IONQ)

Flaharty Asset Management LLC grew its stake in IonQ, Inc. (NYSE:IONQ) by 1,244.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,713 shares of the company’s stock after acquiring an additional 5,288 shares during the period. Flaharty Asset Management LLC’s holdings in IonQ were worth $239,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC bought a new position in shares of IonQ during the fourth quarter valued at approximately $32,060,000. Capital Advisors Inc. OK bought a new position in shares of IonQ during the fourth quarter valued at approximately $18,976,000. UNICOM Systems Inc. bought a new position in shares of IonQ during the fourth quarter valued at approximately $18,106,000. Yong Rong HK Asset Management Ltd bought a new position in shares of IonQ during the third quarter valued at approximately $3,749,000. Finally, Main Management ETF Advisors LLC bought a new position in shares of IonQ during the third quarter valued at approximately $1,865,000. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IONQ has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price objective on shares of IonQ in a research note on Thursday. Craig Hallum increased their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Benchmark decreased their target price on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group increased their target price 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. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IonQ currently has an average rating of “Buy” and an average price target of $44.80.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the firm’s stock in a transaction on 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 transaction, the executive now owns 571,321 shares of the company’s stock, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 44,223 shares of company stock valued at $1,314,652. Insiders own 11.60% of the company’s stock.

IonQ Stock Down 1.3 %

NYSE:IONQ opened at $24.60 on Friday. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The firm has a 50 day moving average of $38.59 and a 200 day moving average of $24.76. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of -30.37 and a beta of 2.41.

About IonQ

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.