IonQ, Inc. (NYSE:IONQ) Shares Purchased by Flaharty Asset Management LLC

Flaharty Asset Management LLC lifted its holdings in IonQ, Inc. (NYSE:IONQ) by 1,244.2% during the fourth quarter, Holdings Channel reports. The fund owned 5,713 shares of the company’s stock after buying an additional 5,288 shares during the quarter. Flaharty Asset Management LLC’s holdings in IonQ were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Chevy Chase Trust Holdings LLC acquired a new stake in IonQ during the fourth quarter valued at $32,060,000. Capital Advisors Inc. OK acquired a new stake in IonQ during the fourth quarter valued at $18,976,000. UNICOM Systems Inc. acquired a new stake in IonQ during the fourth quarter valued at $18,106,000. Yong Rong HK Asset Management Ltd acquired a new stake in IonQ during the third quarter valued at $3,749,000. Finally, Main Management ETF Advisors LLC acquired a new stake in IonQ during the third quarter valued at $1,865,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Stock Down 1.3 %

Shares of NYSE IONQ opened at $24.60 on Friday. The company’s 50-day simple moving average is $38.59 and its 200-day simple moving average is $24.76. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of -30.37 and a beta of 2.41.

Analyst Ratings Changes

IONQ has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of IonQ in a research report on Thursday. 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 upgraded shares of IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Benchmark dropped their price target on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Craig Hallum lifted their target price on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. 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 stock. According to data from MarketBeat, IonQ currently has a consensus rating of “Buy” and a consensus price target of $44.80.

Insider Activity

In other news, CRO Rima Alameddine sold 21,337 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 $634,349.01. Following the transaction, the executive now directly 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 available at this link. Also, CEO Peter Hume Chapman sold 13,106 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 $389,641.38. Following the completion of the transaction, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,223 shares of company stock worth $1,314,652 over the last 90 days. 11.60% of the stock is currently owned by company 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.