Bosun Asset Management LLC Buys New Shares in IonQ, Inc. (NYSE:IONQ)

Bosun Asset Management LLC purchased a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,960 shares of the company's stock, valued at approximately $458,000.

Several other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its stake in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in shares of IonQ in the 4th quarter valued at $33,000. Golden State Wealth Management LLC acquired a new stake in shares of IonQ in the fourth quarter worth $34,000. Finally, City State Bank purchased a new position in shares of IonQ during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

Wall Street Analyst Weigh In

IONQ has been the topic of several recent research reports. DA Davidson lowered their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group upped their target price on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a "buy" rating and set a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. Finally, Benchmark decreased their price target on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

Insider Activity

In related news, Director William F. Scannell purchased 93,066 shares of IonQ stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the transaction, the director now directly owns 135,047 shares in the company, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Rima Alameddine sold 20,047 shares of IonQ stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the sale, the executive now owns 572,568 shares in the company, valued at approximately $10,632,587.76. The trade was a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 in the last quarter. Corporate insiders own 11.60% of the company's stock.

IonQ Trading Down 3.8 %

Shares of IONQ stock opened at $29.76 on Tuesday. The company has a market capitalization of $6.63 billion, a P/E ratio of -36.74 and a beta of 2.46. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The business's 50 day moving average is $24.36 and its two-hundred day moving average is $30.25.

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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