Moody Aldrich Partners LLC purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,559 shares of the company's stock, valued at approximately $652,000.
Several other hedge funds have also modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new position in shares of IonQ in the fourth quarter valued at approximately $27,000. TD Waterhouse Canada Inc. bought a new stake in shares of IonQ during the fourth quarter worth $33,000. Sandy Spring Bank increased its position in shares of IonQ by 350.0% during the fourth quarter. Sandy Spring Bank now owns 900 shares of the company's stock worth $38,000 after acquiring an additional 700 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of IonQ by 1,162.2% during the fourth quarter. Lindbrook Capital LLC now owns 934 shares of the company's stock worth $39,000 after acquiring an additional 860 shares during the period. 41.42% of the stock is owned by institutional investors.
IonQ Trading Down 0.2%
IONQ traded down $0.11 during trading on Tuesday, reaching $45.09. 25,629,265 shares of the company's stock were exchanged, compared to its average volume of 19,743,447. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The stock has a market capitalization of $11.80 billion, a PE ratio of -30.26 and a beta of 2.55. The firm has a fifty day moving average price of $38.40 and a two-hundred day moving average price of $34.05.
IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same period in the prior year, the firm posted ($0.19) EPS. The company's quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.
Insider Activity at IonQ
In other IonQ news, insider Peter Hume Chapman sold 3,581,193 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $38.13, for a total transaction of $136,550,889.09. Following the transaction, the insider owned 390,329 shares in the company, valued at approximately $14,883,244.77. This represents a 90.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Masi Niccolo De sold 2,597,500 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total transaction of $104,783,150.00. Following the transaction, the chief executive officer owned 711,987 shares in the company, valued at approximately $28,721,555.58. The trade was a 78.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,094,201 shares of company stock worth $355,891,729 over the last ninety days. 5.20% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Benchmark boosted their price objective on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Monday. DA Davidson reduced their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of IonQ in a research report on Wednesday, June 11th. Morgan Stanley raised their target price on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald began coverage on shares of IonQ in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 target price for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.43.
View Our Latest Stock Report on IonQ
About IonQ
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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.
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