BOCHK Asset Management Ltd Makes New Investment in IonQ, Inc. (NYSE:IONQ)

BOCHK Asset Management Ltd bought a new position in shares of IonQ, Inc. (NYSE:IONQ) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,000 shares of the company’s stock, valued at approximately $167,000.

A number of other large investors have also recently added to or reduced their stakes in IONQ. City State Bank bought a new position in IonQ during the fourth quarter worth about $36,000. Versant Capital Management Inc lifted its position in 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 acquiring an additional 890 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in IonQ during the fourth quarter worth approximately $42,000. GAMMA Investing LLC raised its position in shares of IonQ by 73.2% in the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after buying an additional 480 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of IonQ in the third quarter valued at approximately $72,000. Institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the transaction, the executive now directly owns 571,321 shares of the company’s stock, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock worth $1,314,652 in the last quarter. Insiders own 11.60% of the company’s stock.

IonQ Trading Up 0.7 %

Shares of NYSE IONQ opened at $38.81 on Wednesday. The firm’s 50-day moving average price is $37.88 and its 200-day moving average price is $20.40. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The firm has a market capitalization of $8.40 billion, a P/E ratio of -47.92 and a beta of 2.43.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.40 million during the quarter, compared to analyst estimates of $10.56 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The company’s revenue was up 102.1% on a year-over-year basis. Equities research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

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.