McGuire Investment Group LLC Invests $272,000 in IonQ, Inc. (NYSE:IONQ)

McGuire Investment Group LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,500 shares of the company's stock, valued at approximately $272,000.

Other hedge funds have also added to or reduced their stakes in the company. Carnegie Investment Counsel bought a new stake in IonQ during the 3rd quarter valued at $5,036,000. Yong Rong HK Asset Management Ltd bought a new position in IonQ in the 3rd quarter worth about $3,749,000. Main Management ETF Advisors LLC purchased a new stake in IonQ in the third quarter valued at approximately $1,865,000. Geode Capital Management LLC raised its position in shares of IonQ by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company's stock valued at $38,640,000 after buying an additional 199,360 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in IonQ in the 3rd quarter worth approximately $1,631,000. Institutional investors own 41.42% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on IONQ shares. Needham & Company LLC upped their price target on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Benchmark upped their price objective on shares of IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. DA Davidson assumed coverage on shares of IonQ in a research note on Thursday, December 19th. They set a "buy" rating and a $50.00 target price on the stock. Finally, Craig Hallum raised their price objective on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

IonQ Stock Down 1.2 %

IONQ stock traded down $0.49 during trading on Friday, reaching $40.86. The company's stock had a trading volume of 19,628,794 shares, compared to its average volume of 34,497,592. The company's fifty day moving average is $37.39 and its 200-day moving average is $19.81. The company has a market capitalization of $8.84 billion, a P/E ratio of -50.44 and a beta of 2.43. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate 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 company had revenue of $12.40 million during the quarter, compared to analysts' expectations of $10.56 million. During the same quarter in the previous year, the firm earned ($0.22) EPS. The firm's revenue for the quarter was up 102.1% compared to the same quarter last year. Analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Activity

In related news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now owns 926,114 shares in the company, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the transaction, the executive now owns 571,321 shares in the company, valued at $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. In the last 90 days, insiders have sold 67,098 shares of company stock valued at $1,720,683. 11.60% of the stock is currently owned by insiders.

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.