Main Management ETF Advisors LLC Has $8.18 Million Stake in IonQ, Inc. (NYSE:IONQ)

Main Management ETF Advisors LLC lowered its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 195,800 shares of the company's stock after selling 17,600 shares during the period. IonQ accounts for 0.4% of Main Management ETF Advisors LLC's portfolio, making the stock its 20th largest holding. Main Management ETF Advisors LLC owned 0.09% of IonQ worth $8,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC raised its stake in shares of IonQ by 421.0% in 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 in the last quarter. Measured Risk Portfolios Inc. bought a new stake in IonQ during the fourth quarter worth approximately $27,000. TD Waterhouse Canada Inc. bought a new stake in IonQ during the fourth quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new position in IonQ during the fourth quarter valued at approximately $34,000. 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 firm's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the purchase, the director now directly owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. This represents a 221.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Rima Alameddine sold 20,047 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $372,272.79. Following the completion of the sale, the executive now directly owns 572,568 shares in the company, valued at $10,632,587.76. This trade represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,033,166 shares of company stock valued at $38,059,593 in the last quarter. Corporate insiders own 11.60% of the company's stock.

IonQ Price Performance

NYSE:IONQ opened at $33.19 on Wednesday. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The company has a fifty day moving average price of $25.37 and a 200 day moving average price of $30.81. The stock has a market cap of $7.40 billion, a P/E ratio of -40.97 and a beta of 2.46.

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. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The business had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The firm's revenue for the quarter was down .2% on a year-over-year basis. As a group, equities research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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