JPMorgan Chase & Co. raised its stake in shares of IonQ, Inc. (NYSE:IONQ – Free Report) by 1,310.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,468,160 shares of the company’s stock after buying an additional 2,293,231 shares during the quarter. JPMorgan Chase & Co. owned about 1.14% of IonQ worth $103,095,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in shares of IonQ during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC grew its stake in IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after buying an additional 501 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of IonQ during the 4th quarter valued at $34,000. City State Bank bought a new stake in shares of IonQ during the 4th quarter worth $36,000. Finally, Hemington Wealth Management purchased a new position in IonQ in the fourth quarter worth $37,000. 41.42% of the stock is currently owned by institutional investors.
IonQ Price Performance
IONQ opened at $25.10 on Thursday. The stock’s 50 day simple moving average is $30.23 and its 200 day simple moving average is $27.37. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of -30.99 and a beta of 2.50. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.
Insider Transactions at IonQ
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on IONQ shares. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. The Goldman Sachs Group raised 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. Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of IonQ in a research note on Monday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IonQ presently has a consensus rating of “Buy” and an average target price of $44.80.
Check Out Our Latest Report on IonQ
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.
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