IonQ, Inc. (NYSE:IONQ) Position Lowered by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. trimmed its position in IonQ, Inc. (NYSE:IONQ) by 92.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,500 shares of the company’s stock after selling 388,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in IonQ were worth $1,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IONQ. Pathway Financial Advisers LLC acquired a new position in shares of IonQ in the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new position in shares of IonQ in the fourth quarter valued at approximately $34,000. City State Bank acquired a new position in IonQ during the fourth quarter worth about $36,000. Hemington Wealth Management bought a new position in shares of IonQ in the fourth quarter valued at $37,000. Finally, Versant Capital Management Inc increased its stake in IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after purchasing an additional 890 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Needham & Company LLC increased their price objective on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Craig Hallum raised their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. 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 report on Friday, January 10th. Benchmark raised their target price on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, DA Davidson initiated 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insiders Place Their Bets

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock valued at $1,314,652 in the last quarter. 11.60% of the stock is currently owned by insiders.

IonQ Price Performance

Shares of IonQ stock opened at $34.14 on Thursday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The business has a 50-day moving average of $39.86 and a two-hundred day moving average of $23.78. The company has a market capitalization of $7.39 billion, a P/E ratio of -42.14 and a beta of 2.40.

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.