Janney Montgomery Scott LLC Sells 1,176 Shares of IonQ, Inc. (NYSE:IONQ)

Janney Montgomery Scott LLC lowered its stake in shares of IonQ, Inc. (NYSE:IONQ) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,759 shares of the company’s stock after selling 1,176 shares during the quarter. Janney Montgomery Scott LLC’s holdings in IonQ were worth $867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Carnegie Investment Counsel bought a new stake in IonQ during the 3rd quarter valued at $5,036,000. Yong Rong HK Asset Management Ltd bought a new position in IonQ in the 3rd quarter valued at approximately $3,749,000. Main Management ETF Advisors LLC bought a new stake in shares of IonQ in the third quarter worth approximately $1,865,000. Geode Capital Management LLC increased its position in IonQ by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock valued at $38,640,000 after acquiring an additional 199,360 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in IonQ during the third quarter valued at approximately $1,631,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of IonQ 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 sale, the executive now directly owns 571,321 shares of the company’s stock, valued at $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by insiders.

IonQ Stock Down 2.2 %

Shares of IONQ stock opened at $41.38 on Friday. The stock has a market cap of $8.95 billion, a PE ratio of -51.08 and a beta of 2.41. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The business has a 50-day simple moving average of $39.02 and a 200-day simple moving average of $21.67.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $12.40 million for the quarter, compared to analyst estimates 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 quarter last year, the company earned ($0.22) EPS. Sell-side analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

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.