NewEdge Advisors LLC Has $744,000 Position in IonQ, Inc. (NYSE:IONQ)

NewEdge Advisors LLC increased its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 738.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,802 shares of the company's stock after acquiring an additional 15,678 shares during the period. NewEdge Advisors LLC's holdings in IonQ were worth $744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IONQ. Pathway Financial Advisers LLC bought a new position in IonQ in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC grew its position in IonQ by 421.0% in 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 in the last quarter. Golden State Wealth Management LLC bought a new position in IonQ in the fourth quarter valued at $34,000. City State Bank bought a new position in IonQ in the fourth quarter valued at $36,000. Finally, Hemington Wealth Management bought a new position in IonQ in the fourth quarter valued at $37,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IONQ has been the subject of a number of analyst reports. DA Davidson decreased their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group raised their target price on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Needham & Company LLC reissued a "buy" rating and issued a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. Finally, Benchmark decreased their price objective on shares of IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

IonQ Trading Down 2.1 %

Shares of IONQ traded down $0.60 during midday trading on Wednesday, reaching $27.49. The stock had a trading volume of 9,467,879 shares, compared to its average volume of 16,131,642. The firm has a 50 day simple moving average of $24.42 and a 200-day simple moving average of $29.64. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The firm has a market cap of $6.13 billion, a PE ratio of -33.94 and a beta of 2.50.

Insider Activity

In other news, CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the transaction, the chief financial officer now owns 944,510 shares in the company, valued at approximately $17,539,550.70. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Rima Alameddine sold 20,047 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $372,272.79. Following the transaction, the executive now owns 572,568 shares in the company, valued at approximately $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. Company insiders own 11.60% of the company's stock.

IonQ Company 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.