Sigma Planning Corp Purchases New Shares in IonQ, Inc. (NYSE:IONQ)

Sigma Planning Corp purchased a new stake in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, Holdings Channel.com reports. The firm purchased 8,837 shares of the company’s stock, valued at approximately $369,000.

A number of other institutional investors have also made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new stake in IonQ in the fourth quarter worth about $26,000. Golden State Wealth Management LLC acquired a new stake in IonQ in the fourth quarter worth about $34,000. City State Bank acquired a new stake in IonQ in the fourth quarter worth about $36,000. Hemington Wealth Management acquired a new stake in IonQ in the fourth quarter worth about $37,000. Finally, Versant Capital Management Inc increased its position in IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after purchasing an additional 890 shares during the period. 41.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on IONQ shares. DA Davidson upgraded IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price objective on shares of IonQ in a report on Thursday. The Goldman Sachs Group lifted their price objective on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Benchmark cut their target price on IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Craig Hallum boosted their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $44.80.

Insider Buying and Selling at IonQ

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

IonQ Price Performance

Shares of NYSE IONQ opened at $24.91 on Friday. The stock’s fifty day moving average price is $38.99 and its two-hundred day moving average price is $24.63. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of -30.75 and a beta of 2.41.

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.