FORA Capital LLC Takes Position in IonQ, Inc. (NYSE:IONQ)

FORA Capital LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 71,721 shares of the company's stock, valued at approximately $2,996,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PDS Planning Inc grew its stake in IonQ by 2.6% during the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after purchasing an additional 300 shares in the last quarter. Mariner LLC increased its stake in shares of IonQ by 0.6% during the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after buying an additional 350 shares during the period. Allworth Financial LP raised its holdings in IonQ by 15.2% in the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company's stock valued at $116,000 after acquiring an additional 363 shares in the last quarter. 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 last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after acquiring an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Stock Performance

NYSE IONQ traded down $0.63 on Friday, reaching $31.21. The stock had a trading volume of 19,030,876 shares, compared to its average volume of 16,518,472. The stock has a market cap of $6.95 billion, a P/E ratio of -38.53 and a beta of 2.46. The business's 50-day moving average price is $24.91 and its 200 day moving average price is $30.47. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The firm had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. During the same quarter in the prior year, the business earned ($0.19) EPS. IonQ's quarterly revenue was down .2% compared to the same quarter last year. On average, sell-side analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Needham & Company LLC dropped their price objective on IonQ from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday. Benchmark decreased their target price on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley increased their price target on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, DA Davidson reduced their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.33.

Insider Buying and Selling at IonQ

In other news, CRO Rima Alameddine sold 20,047 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the transaction, the executive now owns 572,568 shares in the company, valued at $10,632,587.76. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the sale, the insider now owns 414,363 shares in the company, valued at $7,756,875.36. This represents a 82.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,033,166 shares of company stock valued at $38,059,593 in the last ninety days. Insiders own 11.60% of the company's stock.

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.