Ingalls & Snyder LLC Invests $1.36 Million in IonQ, Inc. $IONQ

Ingalls & Snyder LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 22,090 shares of the company’s stock, valued at approximately $1,359,000.

A number of other hedge funds have also recently added to or reduced their stakes in IONQ. Archer Investment Corp lifted its stake in IonQ by 119.3% in the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock valued at $25,000 after buying an additional 322 shares during the last quarter. Stone House Investment Management LLC increased its holdings in shares of IonQ by 700.0% in the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after acquiring an additional 350 shares during the period. Hilltop National Bank raised its position in IonQ by 112.5% in the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Financial Consulate Inc. purchased a new stake in IonQ in the 3rd quarter valued at $29,000. Finally, UMB Bank n.a. acquired a new stake in IonQ during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Trading Up 0.6%

Shares of IONQ stock opened at $33.39 on Thursday. The company has a market cap of $11.60 billion, a price-to-earnings ratio of -6.24 and a beta of 2.63. The stock has a 50 day simple moving average of $44.56 and a 200-day simple moving average of $50.70. IonQ, Inc. has a 12-month low of $17.88 and a 12-month high of $84.64.

Insiders Place Their Bets

In other IonQ news, Director Kathryn K. Chou sold 20,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the transaction, the director owned 60,839 shares in the company, valued at approximately $3,127,124.60. This represents a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IONQ has been the subject of a number of research reports. Mizuho initiated coverage on shares of IonQ in a report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 target price for the company. Wedbush initiated coverage on IonQ in a research note on Wednesday, December 17th. They set an “outperform” rating and a $60.00 price objective for the company. Jefferies Financial Group started coverage on IonQ in a research note on Tuesday, December 16th. They issued a “buy” rating and a $100.00 target price on the stock. DA Davidson upped their price target on IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. started coverage on IonQ in a report on Thursday, November 20th. They set a “neutral” rating and a $47.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.91.

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.