Atria Wealth Solutions Inc. Invests $284,000 in IonQ, Inc. $IONQ

Key Points

• Atria Wealth Solutions Inc. acquired a new stake in IonQ, purchasing 12,856 shares valued at approximately $284,000, indicating growing institutional interest in the company.
• Insider selling has been notable, with CRO Rima Alameddine and Director Kathryn K. Chou selling significant amounts of shares, and insiders have sold over 9 million shares in the past ninety days.
• IonQ's stock has a market cap of $10.53 billion but is currently down 1.9%, following an earnings report where it missed consensus estimates and had a negative return on equity of 67.11%.

Atria Wealth Solutions Inc. acquired a new position in IonQ, Inc. (NYSE:IONQ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,856 shares of the company's stock, valued at approximately $284,000.

A number of other institutional investors have also added to or reduced their stakes in IONQ. ORG Partners LLC raised its holdings in IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after purchasing an additional 870 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in IonQ in the fourth quarter worth $27,000. TD Waterhouse Canada Inc. bought a new position in IonQ in the fourth quarter worth $33,000. Future Financial Wealth Managment LLC raised its holdings in IonQ by 50.0% in the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in IonQ by 780.1% in the first quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after purchasing an additional 1,295 shares in the last quarter. Institutional investors own 41.42% of the company's stock.

IonQ Price Performance

Shares of IonQ stock traded down $1.7880 during trading on Tuesday, hitting $38.4420. 7,036,423 shares of the company's stock traded hands, compared to its average volume of 22,762,129. IonQ, Inc. has a 1 year low of $6.54 and a 1 year high of $54.74. The stock has a market capitalization of $11.41 billion, a P/E ratio of -19.08 and a beta of 2.54. The business has a 50-day simple moving average of $41.72 and a 200-day simple moving average of $34.35.

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

Insider Transactions at IonQ

In other IonQ news, CEO Masi Niccolo De sold 2,597,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total value of $104,783,150.00. Following the transaction, the chief executive officer directly owned 711,987 shares of the company's stock, valued at approximately $28,721,555.58. This trade represents a 78.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas G. Kramer sold 216,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $38.11, for a total value of $8,231,760.00. Following the completion of the transaction, the chief financial officer directly owned 718,516 shares in the company, valued at $27,382,644.76. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,209,626 shares of company stock valued at $361,253,723. Company insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IONQ. Benchmark increased their target price on IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Morgan Stanley increased their target price on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Sanford C. Bernstein began coverage on IonQ in a research note on Wednesday, July 30th. They issued a "market perform" rating on the stock. Needham & Company LLC reissued a "buy" rating on shares of IonQ in a research note on Monday, August 4th. Finally, Oppenheimer began coverage on IonQ in a research note on Wednesday, July 30th. They issued an "outperform" rating on the stock. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $45.00.

About IonQ

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.