SPX Gestao de Recursos Ltda Makes New Investment in IonQ, Inc. $IONQ

SPX Gestao de Recursos Ltda bought a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the third quarter, Holdings Channel reports. The fund bought 30,000 shares of the company’s stock, valued at approximately $1,845,000.

Several other large investors have also recently made changes to their positions in IONQ. Archer Investment Corp grew its stake in shares of IonQ by 119.3% in the 2nd quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after buying an additional 322 shares during the last quarter. Stone House Investment Management LLC grew its stake in shares of IonQ by 700.0% in the third quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after acquiring an additional 350 shares during the last quarter. Hilltop National Bank grew its stake in shares of IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after acquiring an additional 225 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of IonQ during the third quarter valued at $29,000. Finally, UMB Bank n.a. bought a new position in shares of IonQ during the third quarter valued at $31,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William J. Teuber, Jr. bought 3,000 shares of the business’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $38.38 per share, with a total value of $115,140.00. Following the transaction, the director owned 9,413 shares in the company, valued at approximately $361,270.94. This trade represents a 46.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert T. Cardillo sold 5,165 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $39.44, for a total transaction of $203,707.60. Following the sale, the insider owned 112,291 shares of the company’s stock, valued at approximately $4,428,757.04. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,781 shares of company stock worth $1,525,804. 5.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IONQ shares. Morgan Stanley set a $37.00 price target on shares of IonQ in a research note on Thursday, February 26th. Benchmark dropped their target price on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. DA Davidson cut their price target on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Jefferies Financial Group initiated coverage on shares of IonQ in a research report on Tuesday, December 16th. They set a “buy” rating and a $100.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, IonQ presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.45.

IonQ Stock Down 0.9%

Shares of NYSE IONQ opened at $35.69 on Friday. The firm’s 50-day moving average price is $41.25 and its 200-day moving average price is $50.13. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The company has a market cap of $13.09 billion, a PE ratio of -14.33 and a beta of 2.61.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.