Algert Global LLC Has $11.84 Million Stake in IonQ, Inc. $IONQ

Algert Global LLC increased its position in shares of IonQ, Inc. (NYSE:IONQFree Report) by 81.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,586 shares of the company’s stock after acquiring an additional 86,636 shares during the period. Algert Global LLC owned about 0.06% of IonQ worth $11,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of IonQ during the third quarter worth $806,000. Norges Bank bought a new position in shares of IonQ in the 2nd quarter valued at $114,767,000. Western Wealth Management LLC lifted its stake in shares of IonQ by 222.8% in the 3rd quarter. Western Wealth Management LLC now owns 23,762 shares of the company’s stock valued at $1,461,000 after acquiring an additional 16,400 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of IonQ by 56.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,545 shares of the company’s stock valued at $2,924,000 after acquiring an additional 17,215 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in IonQ by 40.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 270,330 shares of the company’s stock worth $11,616,000 after acquiring an additional 77,203 shares during the last quarter. 41.42% of the stock is owned by institutional investors.

IonQ Stock Performance

Shares of NYSE IONQ opened at $33.04 on Monday. The company’s 50 day moving average price is $40.13 and its 200-day moving average price is $50.13. IonQ, Inc. has a 52-week low of $18.81 and a 52-week high of $84.64. The company has a market capitalization of $12.11 billion, a P/E ratio of -13.27 and a beta of 2.61.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Benchmark lowered their target price on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wall Street Zen raised IonQ from a “sell” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC reduced their price target on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of IonQ in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of IonQ from $47.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.45.

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More IonQ News

Here are the key news stories impacting IonQ this week:

Insider Buying and Selling

In other IonQ news, Director Kathryn K. Chou sold 5,000 shares of IonQ stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the director directly owned 60,839 shares in the company, valued at approximately $3,346,145. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William J. Teuber, Jr. purchased 3,000 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was bought at an average cost of $38.38 per share, with a total value of $115,140.00. Following the completion of the purchase, the director owned 9,413 shares of the company’s stock, valued at approximately $361,270.94. This represents a 46.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 10,781 shares of company stock valued at $497,804 over the last 90 days. Company insiders own 5.20% of the company’s stock.

About IonQ

(Free Report)

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.

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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