Versant Capital Management Inc Purchases 890 Shares of IonQ, Inc. (NYSE:IONQ)

Versant Capital Management Inc lifted its position in shares of IonQ, Inc. (NYSE:IONQ) by 1,348.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 956 shares of the company’s stock after buying an additional 890 shares during the quarter. Versant Capital Management Inc’s holdings in IonQ were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in IONQ. Bank of New York Mellon Corp increased its position in IonQ by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock worth $6,443,000 after buying an additional 131,439 shares during the period. Principal Financial Group Inc. grew its stake in shares of IonQ by 40.6% in the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock valued at $188,000 after acquiring an additional 7,744 shares in the last quarter. Rhumbline Advisers increased its position in IonQ by 13.5% during the second quarter. Rhumbline Advisers now owns 295,918 shares of the company’s stock worth $2,080,000 after acquiring an additional 35,158 shares during the period. Arizona State Retirement System raised its stake in IonQ by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock worth $348,000 after purchasing an additional 1,731 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in IonQ by 4,824.2% in the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after purchasing an additional 6,368 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IONQ. Needham & Company LLC lifted their price target on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. DA Davidson started coverage on IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Benchmark boosted their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One research 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, IonQ presently has a consensus rating of “Moderate Buy” and an average price target of $28.60.

IonQ Stock Performance

IonQ stock opened at $50.96 on Tuesday. The stock has a fifty day moving average of $32.53 and a 200-day moving average of $16.96. The stock has a market capitalization of $11.03 billion, a P/E ratio of -62.91 and a beta of 2.43. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $51.66.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The company had revenue of $12.40 million during the quarter, compared to the consensus estimate 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 was up 102.1% compared to the same quarter last year. During the same period last year, the company posted ($0.22) EPS. On average, research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Rima Alameddine sold 9,159 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $10.72, for a total transaction of $98,184.48. Following the sale, the executive now directly owns 648,783 shares in the company, valued at $6,954,953.76. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,223 shares of company stock worth $2,286,983 over the last quarter. Corporate insiders own 11.60% of the company’s stock.

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.