Banque Cantonale Vaudoise Buys New Position in IonQ, Inc. (NYSE:IONQ)

Banque Cantonale Vaudoise purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,952 shares of the company's stock, valued at approximately $198,000.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC increased its holdings in shares of IonQ by 348.0% during the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock valued at $26,000 after acquiring an additional 870 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new position in IonQ during the 4th quarter valued at approximately $27,000. TD Waterhouse Canada Inc. purchased a new position in shares of IonQ in the fourth quarter worth $33,000. Future Financial Wealth Managment LLC lifted its stake in shares of IonQ by 50.0% during the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after buying an additional 500 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of IonQ by 780.1% during the first 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 during the period. Institutional investors and hedge funds own 41.42% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IONQ. Sanford C. Bernstein started coverage on IonQ in a research note on Wednesday. They issued a "market perform" rating for the company. Morgan Stanley raised their price objective on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Cantor Fitzgerald assumed coverage on IonQ in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 target price on the stock. DA Davidson cut their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Benchmark lifted their price objective on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

IonQ Trading Down 4.3%

IonQ stock opened at $38.14 on Friday. The firm has a market cap of $9.98 billion, a PE ratio of -25.60 and a beta of 2.54. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock's 50 day simple moving average is $41.81 and its two-hundred day simple moving average is $34.30.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.51 million. During the same period in the prior year, the firm posted ($0.19) earnings per share. The firm's quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Thomas G. Kramer sold 47,478 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $47.70, for a total value of $2,264,700.60. Following the completion of the transaction, the chief financial officer owned 555,656 shares of the company's stock, valued at approximately $26,504,791.20. This represents a 7.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn K. Chou sold 6,789 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $43.14, for a total value 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 disclosure for this sale can be found here. Insiders have sold 9,191,850 shares of company stock valued at $360,519,930 over the last quarter. Insiders own 5.20% of the company's stock.

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.

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