Voloridge Investment Management LLC Acquires New Shares in IonQ, Inc. (NYSE:IONQ)

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

A number of other institutional investors and hedge funds have also made changes to their positions in IONQ. Pathway Financial Advisers LLC acquired a new stake in IonQ in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its holdings in shares of IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after purchasing an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of IonQ during the fourth quarter valued at approximately $27,000. TD Waterhouse Canada Inc. bought a new position in shares of IonQ during the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC bought a new position in shares of IonQ during the fourth quarter valued at approximately $34,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Stock Performance

Shares of NYSE:IONQ traded up $2.38 during trading hours on Tuesday, hitting $48.07. The stock had a trading volume of 30,050,307 shares, compared to its average volume of 17,567,223. The stock's fifty day simple moving average is $28.27 and its 200 day simple moving average is $32.20. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of -59.34 and a beta of 2.46.

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

Insider Activity at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 11,712 shares of IonQ stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $217,491.84. Following the completion of the sale, the chief financial officer now owns 944,510 shares of the company's stock, valued at $17,539,550.70. This trade represents a 1.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the sale, the insider now directly owns 414,363 shares of the company's stock, valued at $7,756,875.36. This trade represents a 82.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 over the last quarter. 11.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on IONQ. Needham & Company LLC lowered their target price on IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. DA Davidson lowered their target price on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley upped their target price on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Finally, 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, IonQ has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

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.