SG Americas Securities LLC Has $334,000 Position in IonQ, Inc. (NYSE:IONQ)

SG Americas Securities LLC cut its stake in IonQ, Inc. (NYSE:IONQ) by 99.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,000 shares of the company’s stock after selling 2,276,293 shares during the quarter. SG Americas Securities LLC’s holdings in IonQ were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. City State Bank bought a new stake in IonQ in the fourth quarter worth approximately $36,000. Versant Capital Management Inc lifted its stake in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in IonQ in the fourth quarter worth $42,000. GAMMA Investing LLC increased its position in IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock worth $47,000 after buying an additional 480 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in IonQ during the third quarter valued at about $72,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Stock Up 1.2 %

IONQ opened at $41.98 on Wednesday. The stock’s 50 day moving average price is $38.59 and its two-hundred day moving average price is $21.28. The firm has a market capitalization of $9.08 billion, a P/E ratio of -51.82 and a beta of 2.41. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million during the quarter, compared to analyst estimates of $10.56 million. During the same quarter in the previous year, the business posted ($0.22) EPS. The company’s revenue was up 102.1% on a year-over-year basis. As a group, analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Activity at IonQ

In other news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares of the company’s stock, valued at $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock worth $1,314,652 in the last ninety days. 11.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

IONQ has been the subject of several recent analyst reports. Craig Hallum upped their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. DA Davidson assumed coverage on IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 target price for the company. Benchmark increased their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC boosted their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

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.