Avior Wealth Management LLC Acquires New Stake in IonQ, Inc. $IONQ

Key Points

• Avior Wealth Management LLC has acquired a new stake in IonQ, Inc., purchasing 5,045 shares valued at approximately $217,000 during the 2nd quarter.
• Several institutional investors have significantly increased their holdings in IonQ, with increases of up to 780.1% noted during the 1st quarter.
• IonQ's stock performance indicates a market cap of $18.77 billion, with shares opening at $63.23, amidst recent insider selling from key executives.

Avior Wealth Management LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,045 shares of the company's stock, valued at approximately $217,000.

Several other institutional investors have also added to or reduced their stakes in the stock. ORG Partners LLC lifted its position in IonQ by 348.0% during the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after buying an additional 870 shares in the last quarter. Farther Finance Advisors LLC lifted its position in IonQ by 780.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after buying an additional 1,295 shares in the last quarter. Close Asset Management Ltd bought a new stake in IonQ during the 1st quarter worth about $35,000. SVB Wealth LLC bought a new stake in IonQ during the 1st quarter worth about $35,000. Finally, Golden State Wealth Management LLC lifted its position in IonQ by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company's stock worth $36,000 after buying an additional 808 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Insider Activity

In other IonQ news, Director Kathryn K. Chou sold 6,789 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were 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 in the company, valued at $2,624,594.46. This represents a 10.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Masi Niccolo De sold 16,120 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $715,728.00. Following the transaction, the chief executive officer owned 1,181,186 shares in the company, valued at approximately $52,444,658.40. The trade was a 1.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,047 shares of company stock worth $12,602,891. Insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wolfe Research assumed coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a "peer perform" rating on the stock. Rosenblatt Securities reissued a "buy" rating and set a $70.00 price target on shares of IonQ in a research report on Monday, September 15th. Needham & Company LLC boosted their price target on shares of IonQ from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. B. Riley boosted their price target on shares of IonQ from $75.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, DA Davidson cut shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 target price on the stock. in a report on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.33.

IonQ Stock Performance

Shares of IONQ opened at $63.23 on Thursday. IonQ, Inc. has a 52 week low of $7.99 and a 52 week high of $76.13. The firm has a market cap of $18.77 billion, a P/E ratio of -31.46 and a beta of 2.60. The firm's 50-day simple moving average is $48.28 and its 200 day simple moving average is $39.00.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $20.69 million during the quarter, compared to analyst estimates of $17.23 million. During the same quarter last year, the company posted ($0.18) EPS. The firm's quarterly revenue was up 81.6% on a year-over-year basis. As a group, equities analysts forecast that IonQ, Inc. will post -0.86 earnings per share 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.

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