Voloridge Investment Management LLC Makes New $7.08 Million Investment in IonQ, Inc. (NYSE:IONQ)

Voloridge Investment Management LLC bought a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 169,530 shares of the company's stock, valued at approximately $7,081,000. Voloridge Investment Management LLC owned approximately 0.08% of IonQ at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. PDS Planning Inc lifted its stake in IonQ by 2.6% during the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after acquiring an additional 300 shares in the last quarter. Mariner LLC increased its holdings in IonQ by 0.6% during the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after purchasing an additional 350 shares during the period. Allworth Financial LP increased its holdings in IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after purchasing an additional 363 shares during the period. Smartleaf Asset Management LLC increased its holdings in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after purchasing an additional 501 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in IonQ during the 4th quarter worth about $26,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at IonQ

In other news, Director William F. Scannell purchased 93,066 shares of the stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price 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 approximately $2,945,375.07. The trade was a 221.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the transaction, the insider now owns 414,363 shares in the company, valued at approximately $7,756,875.36. This represents a 82.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. Company insiders own 11.60% of the company's stock.

IonQ Price Performance

IonQ stock traded down $3.30 during mid-day trading on Thursday, hitting $44.26. 14,681,828 shares of the company were exchanged, compared to its average volume of 17,660,654. The business's 50 day simple moving average is $29.31 and its two-hundred day simple moving average is $32.41. The company has a market capitalization of $9.86 billion, a P/E ratio of -54.65 and a beta of 2.46. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

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