Veracity Capital LLC Invests $230,000 in IonQ, Inc. (NYSE:IONQ)

Veracity Capital LLC purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,508 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IONQ. City State Bank bought a new position in shares of IonQ during the fourth quarter valued at approximately $36,000. Versant Capital Management Inc increased its stake in IonQ by 1,348.5% in 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 period. Future Financial Wealth Managment LLC bought a new stake in shares of IonQ during the fourth quarter worth $42,000. GAMMA Investing LLC boosted 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 valued at $47,000 after purchasing an additional 480 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of IonQ in the third quarter worth about $72,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now owns 926,114 shares in the company, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Rima Alameddine sold 22,875 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.75, for a total value of $406,031.25. Following the completion of the sale, the executive now directly owns 592,658 shares of the company’s stock, valued at $10,519,679.50. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,098 shares of company stock worth $1,720,683. Corporate insiders own 11.60% of the company’s stock.

IonQ Stock Down 1.2 %

IonQ stock opened at $40.86 on Friday. The firm has a market cap of $8.84 billion, a P/E ratio of -50.44 and a beta of 2.43. The business has a fifty day moving average of $37.16 and a two-hundred day moving average of $19.58. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The company’s revenue was up 102.1% on a year-over-year basis. Equities analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IONQ. Benchmark boosted their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Needham & Company LLC lifted their target price on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. DA Davidson assumed coverage on IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.00.

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.