Western Wealth Management LLC Raises Stock Holdings in IonQ, Inc. $IONQ

Western Wealth Management LLC increased its stake in IonQ, Inc. (NYSE:IONQ) by 222.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,762 shares of the company’s stock after purchasing an additional 16,400 shares during the period. Western Wealth Management LLC’s holdings in IonQ were worth $1,461,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Archer Investment Corp grew its stake in IonQ by 119.3% in the 2nd quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after buying an additional 322 shares in the last quarter. Stone House Investment Management LLC raised its position in shares of IonQ by 700.0% during the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after buying an additional 350 shares in the last quarter. Hilltop National Bank lifted its holdings in shares of IonQ by 112.5% during the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after acquiring an additional 225 shares during the last quarter. Financial Consulate Inc. purchased a new position in IonQ in the third quarter worth $29,000. Finally, UMB Bank n.a. purchased a new position in IonQ in the third quarter worth $31,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Price Performance

Shares of IonQ stock opened at $35.50 on Tuesday. IonQ, Inc. has a one year low of $17.88 and a one year high of $84.64. The business’s 50 day simple moving average is $47.13 and its two-hundred day simple moving average is $51.12. The stock has a market capitalization of $12.33 billion, a P/E ratio of -6.64 and a beta of 2.63.

Analyst Ratings Changes

IONQ has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research note on Thursday, January 22nd. Mizuho began coverage on IonQ in a research report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 target price for the company. Jefferies Financial Group assumed coverage on IonQ in a research note on Tuesday, December 16th. They issued a “buy” rating and a $100.00 target price for the company. Zacks Research upgraded shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, DA Davidson boosted their price objective on shares of IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.91.

Insider Buying and Selling at IonQ

In other IonQ news, CRO Rima Alameddine sold 100,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $46.89, for a total value of $4,689,000.00. Following the sale, the executive owned 432,616 shares of the company’s stock, valued at $20,285,364.24. This trade represents a 18.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn K. Chou sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the completion of the transaction, the director owned 60,839 shares in the company, valued at $3,127,124.60. The trade was a 24.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 125,000 shares of company stock worth $5,992,000. 5.20% of the stock is owned by 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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.