Milestone Asset Management LLC Sells 11,331 Shares of IonQ, Inc. (NYSE:IONQ)

Milestone Asset Management LLC decreased its position in shares of IonQ, Inc. (NYSE:IONQ) by 29.4% during the fourth quarter, HoldingsChannel reports. The fund owned 27,224 shares of the company’s stock after selling 11,331 shares during the quarter. Milestone Asset Management LLC’s holdings in IonQ were worth $1,137,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of IONQ. City State Bank purchased a new stake in shares of IonQ during the fourth quarter valued at $36,000. Versant Capital Management Inc boosted 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 valued at $40,000 after purchasing an additional 890 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of IonQ during the fourth quarter valued at $42,000. GAMMA Investing LLC lifted its stake in IonQ by 73.2% in 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. Finally, Sugar Maple Asset Management LLC purchased a new stake in IonQ in the fourth quarter worth about $84,000. Institutional investors own 41.42% of the company’s stock.

IonQ Trading Up 2.0 %

Shares of NYSE:IONQ opened at $39.63 on Thursday. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company’s 50 day moving average is $37.88 and its 200 day moving average is $20.40. The company has a market cap of $8.58 billion, a PE ratio of -48.93 and a beta of 2.43.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of 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 upped their price objective on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. DA Davidson started coverage on shares of IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective on the stock. Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Benchmark upped their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Transactions at IonQ

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the sale, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at $27,524,108.08. The trade was a 1.04 % 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 valued at $1,314,652 in the last 90 days. 11.60% of the stock is currently owned by company insiders.

IonQ 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.