SG Americas Securities LLC Sells 2,276,293 Shares of IonQ, Inc. (NYSE:IONQ)

SG Americas Securities LLC lessened its stake in shares of IonQ, Inc. (NYSE:IONQ) by 99.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,000 shares of the company’s stock after selling 2,276,293 shares during the period. SG Americas Securities LLC’s holdings in IonQ were worth $334,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of IONQ. City State Bank acquired a new stake in shares of IonQ during the fourth quarter worth approximately $36,000. Versant Capital Management Inc increased its holdings in IonQ by 1,348.5% during 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in IonQ during the 4th quarter valued at $42,000. GAMMA Investing LLC raised its position in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after purchasing an additional 480 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in IonQ in the third quarter worth $72,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Activity at IonQ

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction 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 transaction, the executive now directly owns 571,321 shares in the company, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by insiders.

IonQ Trading Up 1.2 %

IonQ stock opened at $41.98 on Wednesday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The company’s 50-day moving average is $38.59 and its two-hundred day moving average is $21.28. The company has a market cap of $9.08 billion, a PE ratio of -51.82 and a beta of 2.41.

IonQ (NYSE:IONQ) last released 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). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. During the same period in the prior year, the firm posted ($0.22) EPS. IonQ’s revenue was up 102.1% on a year-over-year basis. Research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

Analysts Set New Price Targets

IONQ has been the subject of a number of research reports. Needham & Company LLC raised their target price on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Craig Hallum boosted their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Benchmark upped their target price on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. 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 report on Friday, January 10th. Finally, DA Davidson started coverage on IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

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.