Tower Research Capital LLC TRC Has $186,000 Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Tower Research Capital LLC TRC reduced its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 73.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,456 shares of the company's stock after selling 12,289 shares during the quarter. Tower Research Capital LLC TRC's holdings in IonQ were worth $186,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Versant Capital Management Inc raised its stake in shares of IonQ by 1,348.5% during the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company's stock worth $40,000 after purchasing an additional 890 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 480 shares during the period. Everence Capital Management Inc. purchased a new position in IonQ during the fourth quarter worth about $216,000. City State Bank acquired a new stake in IonQ in the fourth quarter valued at about $36,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in IonQ in the 4th quarter valued at approximately $42,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Benchmark reduced their price target on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. DA Davidson decreased their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group increased their price target on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $54.00 price objective on shares of IonQ in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.80.

Insider Transactions at IonQ

In related news, CFO Thomas G. Kramer sold 11,712 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 $217,491.84. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William F. Scannell purchased 93,066 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares of the company's stock, valued at $2,945,375.07. This represents a 221.69 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is currently owned by insiders.

IonQ Price Performance

Shares of NYSE:IONQ traded down $0.35 during midday trading on Tuesday, reaching $29.48. The company had a trading volume of 10,790,010 shares, compared to its average volume of 16,269,895. The stock has a market capitalization of $6.57 billion, a P/E ratio of -36.39 and a beta of 2.46. The stock's fifty day moving average price is $24.36 and its 200-day moving average price is $30.25. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

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.