Ingalls & Snyder LLC Makes New Investment in IonQ, Inc. $IONQ

Ingalls & Snyder LLC purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the third quarter, according to its most recent filing with the SEC. The firm purchased 22,090 shares of the company’s stock, valued at approximately $1,359,000.

Several other institutional investors have also modified their holdings of IONQ. Stone House Investment Management LLC increased its stake in 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 purchasing an additional 350 shares in the last quarter. Hilltop National Bank boosted its position in IonQ by 112.5% during the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after purchasing an additional 225 shares in the last quarter. Financial Consulate Inc. purchased a new position in shares of IonQ in the third quarter valued at $29,000. UMB Bank n.a. purchased a new position in shares of IonQ in the third quarter valued at $31,000. Finally, Archer Investment Corp raised its stake in shares of IonQ by 119.3% during the 2nd quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after buying an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of IonQ in a research report on Thursday, November 20th. They set a “neutral” rating and a $47.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a research note on Monday, February 9th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of IonQ in a research report on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of IonQ in a report on Thursday, January 22nd. Finally, DA Davidson lifted their price objective on IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.91.

Insider Buying and Selling

In other news, Director Kathryn K. Chou sold 5,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the director directly owned 60,839 shares in the company, valued at $3,346,145. This represents a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is owned by company insiders.

IonQ Trading Up 0.6%

IonQ stock opened at $33.39 on Thursday. The stock has a fifty day moving average price of $44.56 and a 200 day moving average price of $50.70. IonQ, Inc. has a 52 week low of $17.88 and a 52 week high of $84.64. The firm has a market capitalization of $11.60 billion, a P/E ratio of -6.24 and a beta of 2.63.

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. 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.