BCK Capital Management LP Lowers Position in IonQ, Inc. (NYSE:IONQ)

BCK Capital Management LP cut its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 79.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,228 shares of the company's stock after selling 151,362 shares during the period. IonQ comprises about 1.2% of BCK Capital Management LP's investment portfolio, making the stock its 19th biggest position. BCK Capital Management LP's holdings in IonQ were worth $1,597,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC purchased a new position in shares of IonQ in the fourth quarter valued at about $215,000. Nisa Investment Advisors LLC lifted its position in shares of IonQ by 625.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 18,764 shares of the company's stock valued at $784,000 after acquiring an additional 16,177 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in shares of IonQ by 9.2% in the fourth quarter. Daymark Wealth Partners LLC now owns 13,100 shares of the company's stock valued at $547,000 after acquiring an additional 1,100 shares in the last quarter. Magnus Financial Group LLC purchased a new position in shares of IonQ in the fourth quarter valued at about $259,000. Finally, Veracity Capital LLC purchased a new position in shares of IonQ in the fourth quarter valued at about $230,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Trading Up 37.1%

Shares of IONQ stock opened at $45.97 on Friday. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock's 50-day moving average price is $27.36 and its 200-day moving average price is $31.67. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of -56.75 and a beta of 2.46.

IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.14. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm had revenue of $7.57 million for the quarter, compared to analysts' expectations of $7.51 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. The business's revenue was down .2% compared to the same quarter last year. As a group, research analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the sale, the executive now directly owns 592,615 shares of the company's stock, valued at $12,563,438. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas G. Kramer sold 11,712 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the sale, the chief financial officer now directly owns 944,510 shares in the company, valued at $17,539,550.70. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 over the last ninety days. 11.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IONQ has been the topic of several research analyst reports. Needham & Company LLC lowered their price objective on IonQ from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Benchmark lowered their price objective on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. DA Davidson lowered their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley lifted their target price on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, IonQ presently has an average rating of "Moderate Buy" and a consensus price target of $38.33.

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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