Caitong International Asset Management Co. Ltd Purchases 86,285 Shares of IonQ, Inc. $IONQ

Caitong International Asset Management Co. Ltd increased its position in IonQ, Inc. (NYSE:IONQFree Report) by 3,923.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,484 shares of the company’s stock after acquiring an additional 86,285 shares during the quarter. IonQ comprises about 3.8% of Caitong International Asset Management Co. Ltd’s investment portfolio, making the stock its 5th biggest position. Caitong International Asset Management Co. Ltd’s holdings in IonQ were worth $5,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IONQ. Archer Investment Corp increased its stake in shares of IonQ by 119.3% in the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after purchasing an additional 322 shares during the period. Stone House Investment Management LLC boosted its stake in IonQ by 700.0% during the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after purchasing an additional 350 shares during the period. Ameriflex Group Inc. grew its holdings in IonQ by 485.7% in the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after buying an additional 340 shares during the last quarter. Hilltop National Bank grew its holdings in IonQ by 112.5% in the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after buying an additional 225 shares during the last quarter. Finally, Financial Consulate Inc. bought a new position in IonQ in the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

IonQ Trading Up 0.1%

Shares of NYSE:IONQ opened at $33.33 on Wednesday. The firm has a market capitalization of $12.22 billion, a PE ratio of -13.39 and a beta of 2.61. IonQ, Inc. has a 1-year low of $18.81 and a 1-year high of $84.64. The business’s 50 day moving average is $39.48 and its 200-day moving average is $50.00.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of IonQ in a research report on Thursday, February 26th. DA Davidson cut their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Morgan Stanley set a $37.00 price target on shares of IonQ in a research report on Thursday, February 26th. Finally, Needham & Company LLC dropped their price objective on shares of IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.45.

Read Our Latest Stock Report on IONQ

Insider Buying and Selling at IonQ

In related news, Director Kathryn K. Chou sold 5,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the director owned 60,839 shares of the company’s stock, valued at $3,346,145. This represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William J. Teuber, Jr. purchased 3,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were acquired at an average price of $38.38 per share, with a total value of $115,140.00. Following the purchase, the director owned 9,413 shares of the company’s stock, valued at approximately $361,270.94. This trade represents a 46.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 13,581 shares of company stock worth $591,156. Corporate insiders own 5.20% of the company’s stock.

IonQ Profile

(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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