50,000 Shares in IonQ, Inc. (NYSE:IONQ) Purchased by Morgens Waterfall Vintiadis & Co. Inc.

Morgens Waterfall Vintiadis & Co. Inc. acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $2,088,000. IonQ comprises about 1.6% of Morgens Waterfall Vintiadis & Co. Inc.'s portfolio, making the stock its 21st largest position.

A number of other large investors have also recently added to or reduced their stakes in the business. PDS Planning Inc lifted its stake in IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after purchasing an additional 300 shares in the last quarter. Mariner LLC lifted its stake in IonQ by 0.6% during the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after purchasing an additional 350 shares in the last quarter. Allworth Financial LP lifted its stake in IonQ by 15.2% during the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC lifted its stake in IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock worth $47,000 after purchasing an additional 480 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after purchasing an additional 501 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Price Performance

Shares of NYSE IONQ traded up $2.52 during mid-day trading on Friday, hitting $35.06. The company had a trading volume of 17,380,399 shares, compared to its average volume of 16,686,104. The company has a market capitalization of $7.81 billion, a PE ratio of -43.29 and a beta of 2.46. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The business's 50-day simple moving average is $25.89 and its 200 day simple moving average is $30.93.

IonQ (NYSE:IONQ - Get Free Report) last posted its 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. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. IonQ's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.19) earnings per share. On average, analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 20,047 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $372,272.79. Following the transaction, the executive now owns 572,568 shares of the company's stock, valued at $10,632,587.76. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William F. Scannell purchased 93,066 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the acquisition, the director now owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. The trade was a 221.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 over the last quarter. 11.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on IONQ shares. Benchmark decreased 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. Needham & Company LLC reduced their price objective on IonQ from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Morgan Stanley increased their price objective on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Finally, DA Davidson reduced their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, IonQ presently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

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.