GTS Securities LLC Has $333,000 Stock Position in IonQ, Inc. (NYSE:IONQ)

GTS Securities LLC lessened its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 94.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,980 shares of the company's stock after selling 141,384 shares during the period. GTS Securities LLC's holdings in IonQ were worth $333,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of IonQ by 29.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 362,603 shares of the company's stock valued at $15,146,000 after purchasing an additional 82,499 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of IonQ in the fourth quarter valued at $7,081,000. Virtus Fund Advisers LLC acquired a new position in shares of IonQ in the fourth quarter worth $42,000. Virtus Investment Advisers Inc. acquired a new position in shares of IonQ in the fourth quarter worth $209,000. Finally, Visionary Wealth Advisors acquired a new position in shares of IonQ in the fourth quarter worth $567,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

Insider Buying and Selling at IonQ

In other IonQ news, Director William F. Scannell purchased 93,066 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares in the company, valued at $2,945,375.07. This trade represents a 221.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas G. Kramer sold 11,712 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the sale, the chief financial officer now directly owns 944,510 shares in the company, valued at approximately $17,539,550.70. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,033,166 shares of company stock worth $38,059,593 over the last three months. Corporate insiders own 11.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IONQ. DA Davidson dropped their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC dropped their price target on shares of IonQ from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Benchmark dropped their price target on shares of IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley upped their price target on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

IonQ Trading Down 6.6%

NYSE IONQ traded down $2.86 during trading on Friday, hitting $40.34. 27,076,076 shares of the company traded hands, compared to its average volume of 17,915,726. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The business has a fifty day simple moving average of $29.94 and a 200 day simple moving average of $32.75. The company has a market capitalization of $8.99 billion, a P/E ratio of -49.80 and a beta of 2.46.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same period last year, the company earned ($0.19) earnings per share. The business's revenue was down .2% compared to the same quarter last year. Equities research analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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.