Benjamin Edwards Inc. Acquires New Shares in IonQ, Inc. (NYSE:IONQ)

Benjamin Edwards Inc. bought a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 52,754 shares of the company's stock, valued at approximately $2,203,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC bought a new position in IonQ in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of IonQ in the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC acquired a new position in shares of IonQ during the fourth quarter valued at approximately $34,000. Finally, City State Bank acquired a new stake in IonQ in the fourth quarter worth approximately $36,000. Institutional investors own 41.42% of the company's stock.

Insider Buying and Selling

In other IonQ news, insider Peter Hume Chapman sold 2,000,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the transaction, the insider now owns 414,363 shares in the company, valued at $7,756,875.36. The trade was a 82.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the transaction, the executive now directly owns 592,615 shares in the company, valued at approximately $12,563,438. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. Corporate insiders own 11.60% of the company's stock.

Analysts Set New Price Targets

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

IonQ Price Performance

NYSE IONQ traded up $2.90 on Thursday, hitting $32.04. 39,095,854 shares of the company were exchanged, compared to its average volume of 16,417,044. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The firm has a market capitalization of $7.14 billion, a P/E ratio of -39.56 and a beta of 2.46. The company's 50 day moving average price is $24.55 and its 200-day moving average price is $30.24.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate 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 business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The firm's quarterly revenue was down .2% on a year-over-year basis. As a group, equities analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

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.