111 Capital Acquires New Stake in IonQ, Inc. $IONQ

Key Points

• 111 Capital has acquired a new stake in IonQ, Inc., purchasing 7,486 shares valued at approximately $322,000 during the 2nd quarter.
• Insider activity shows that Director Kathryn K. Chou and CRO Rima Alameddine both sold significant shares recently, indicating a decrease in their positions in the company.
• IonQ's stock has seen a 7.8% increase, with a current market cap of $23.44 billion and a twelve month high of $79.23.

111 Capital acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,486 shares of the company's stock, valued at approximately $322,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC raised its stake in IonQ by 2.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock valued at $452,000 after purchasing an additional 500 shares during the last quarter. Signaturefd LLC grew its holdings in IonQ by 20.7% in the 1st quarter. Signaturefd LLC now owns 4,048 shares of the company's stock valued at $89,000 after buying an additional 694 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in IonQ by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company's stock valued at $36,000 after buying an additional 808 shares in the last quarter. ORG Partners LLC grew its holdings in IonQ by 348.0% in the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company's stock valued at $26,000 after buying an additional 870 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in IonQ by 33.7% in the 1st quarter. Allworth Financial LP now owns 3,682 shares of the company's stock valued at $81,000 after buying an additional 929 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at IonQ

In related news, Director Kathryn K. Chou sold 6,789 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $43.14, for a total transaction of $292,877.46. Following the transaction, the director owned 60,839 shares of the company's stock, valued at approximately $2,624,594.46. This represents a 10.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Rima Alameddine sold 19,976 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $886,934.40. Following the transaction, the executive directly owned 532,616 shares in the company, valued at approximately $23,648,150.40. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,665 shares of company stock worth $8,223,268. Insiders own 5.20% of the company's stock.

IonQ Trading Up 7.8%

NYSE IONQ opened at $78.98 on Tuesday. The stock has a market cap of $23.44 billion, a PE ratio of -39.29 and a beta of 2.60. IonQ, Inc. has a twelve month low of $8.85 and a twelve month high of $79.23. The stock has a fifty day simple moving average of $50.12 and a 200-day simple moving average of $40.30.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.57). The business had revenue of $20.69 million for the quarter, compared to analysts' expectations of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The business's revenue for the quarter was up 81.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) earnings per share. Research analysts predict that IonQ, Inc. will post -0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IONQ shares. Needham & Company LLC upped their target price on IonQ from $60.00 to $80.00 and gave the company a "buy" rating in a report on Monday, September 15th. Wolfe Research started coverage on IonQ in a report on Wednesday, July 30th. They issued a "peer perform" rating for the company. DA Davidson cut IonQ from a "buy" rating to a "neutral" rating and set a $35.00 target price for the company. in a report on Thursday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of IonQ in a report on Saturday, September 27th. Finally, Oppenheimer started coverage on IonQ in a report on Wednesday, July 30th. They issued an "outperform" rating for the company. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $58.33.

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.

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