Moody Aldrich Partners LLC Takes $652,000 Position in IonQ, Inc. (NYSE:IONQ)

Moody Aldrich Partners LLC purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 29,559 shares of the company's stock, valued at approximately $652,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after buying an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in IonQ in the fourth quarter valued at approximately $27,000. TD Waterhouse Canada Inc. bought a new position in IonQ in the fourth quarter valued at approximately $33,000. Sandy Spring Bank increased its stake in IonQ by 350.0% in the fourth quarter. Sandy Spring Bank now owns 900 shares of the company's stock valued at $38,000 after acquiring an additional 700 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in IonQ by 1,162.2% in the fourth quarter. Lindbrook Capital LLC now owns 934 shares of the company's stock valued at $39,000 after acquiring an additional 860 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Trading Down 1.8%

Shares of IONQ stock traded down $0.81 during trading hours on Friday, hitting $43.94. 13,345,323 shares of the company were exchanged, compared to its average volume of 19,603,861. The firm has a fifty day simple moving average of $37.72 and a 200 day simple moving average of $33.99. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of -29.49 and a beta of 2.55.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. The company had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. IonQ's revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm earned ($0.19) EPS. Sell-side analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on IONQ shares. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of IonQ in a research note on Wednesday, June 11th. DA Davidson cut 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. Morgan Stanley lifted their price target on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Cantor Fitzgerald began coverage on shares of IonQ in a report on Wednesday. They issued an "overweight" rating and a $45.00 target price on the stock. Finally, Benchmark reaffirmed a "buy" rating and set a $50.00 price target on shares of IonQ in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.71.

Insider Buying and Selling

In other IonQ news, Director Kathryn K. Chou sold 25,696 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.46, for a total value of $1,039,660.16. Following the sale, the director directly owned 62,115 shares in the company, valued at $2,513,172.90. This represents a 29.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Rima Alameddine sold 65,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $38.57, for a total transaction of $2,507,050.00. Following the completion of the sale, the executive owned 552,592 shares in the company, valued at $21,313,473.44. This represents a 10.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,972,201 shares of company stock worth $350,540,009 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

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.