Western Wealth Management LLC Increases Holdings in IonQ, Inc. $IONQ

Western Wealth Management LLC grew its holdings in IonQ, Inc. (NYSE:IONQ) by 222.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,762 shares of the company’s stock after acquiring an additional 16,400 shares during the period. Western Wealth Management LLC’s holdings in IonQ were worth $1,461,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its holdings in shares of IonQ by 110.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,110 shares of the company’s stock valued at $71,000 after acquiring an additional 582 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in IonQ during the 3rd quarter valued at $269,000. Prime Capital Investment Advisors LLC raised its holdings in IonQ by 80.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,239 shares of the company’s stock worth $630,000 after purchasing an additional 4,569 shares in the last quarter. Modus Advisors LLC raised its holdings in IonQ by 72.5% in the 3rd quarter. Modus Advisors LLC now owns 8,800 shares of the company’s stock worth $541,000 after purchasing an additional 3,700 shares in the last quarter. Finally, MONECO Advisors LLC lifted its position in shares of IonQ by 10.7% in the 3rd quarter. MONECO Advisors LLC now owns 8,308 shares of the company’s stock worth $511,000 after purchasing an additional 803 shares during the period. 41.42% of the stock is currently owned by institutional investors.

IonQ Stock Performance

IONQ stock opened at $35.50 on Tuesday. The firm has a 50 day moving average price of $47.13 and a 200-day moving average price of $51.12. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of -6.64 and a beta of 2.63.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price objective on shares of IonQ in a research report on Tuesday, January 27th. Mizuho started coverage on IonQ in a research report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 target price for the company. JPMorgan Chase & Co. began coverage on IonQ in a research note on Thursday, November 20th. They issued a “neutral” rating and a $47.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on IonQ in a research report on Tuesday, December 16th. They set a “buy” rating and a $100.00 price target on the stock. Nine 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.91.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 100,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total value of $4,689,000.00. Following the sale, the executive directly owned 432,616 shares of the company’s stock, valued at approximately $20,285,364.24. The trade was a 18.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathryn K. Chou sold 20,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the sale, the director directly owned 60,839 shares in the company, valued at approximately $3,127,124.60. This represents a 24.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 125,000 shares of company stock valued at $5,992,000 in the last quarter. 5.20% of the stock is owned by company insiders.

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.