Blair William & Co. IL Takes Position in IonQ, Inc. $IONQ

Key Points

• Blair William & Co. has acquired a stake in IonQ, purchasing 8,425 shares valued at approximately $362,000 during the second quarter of the year.
• Several hedge funds have also increased their positions in IonQ, with Clear Creek Financial Management LLC increasing its holdings by 11.8%, now owning 11,825 shares valued at $508,000.
• The company has received mixed ratings from analysts, with a consensus price target of $58.33 and seven analysts rating the stock as a Buy.

Blair William & Co. IL acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,425 shares of the company's stock, valued at approximately $362,000.

A number of other hedge funds have also made changes to their positions in the business. Clear Creek Financial Management LLC increased its holdings in shares of IonQ by 11.8% in the 2nd quarter. Clear Creek Financial Management LLC now owns 11,825 shares of the company's stock valued at $508,000 after acquiring an additional 1,246 shares during the last quarter. Gainplan LLC purchased a new position in shares of IonQ in the 2nd quarter valued at about $435,000. Abel Hall LLC purchased a new position in shares of IonQ in the 2nd quarter valued at about $222,000. KLP Kapitalforvaltning AS increased its holdings in shares of IonQ by 21.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 47,000 shares of the company's stock valued at $2,020,000 after acquiring an additional 8,300 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in shares of IonQ in the 2nd quarter valued at about $244,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

Analysts Set New Price Targets

IONQ has been the topic of a number of research reports. Wolfe Research initiated coverage on IonQ in a research note on Wednesday, July 30th. They set a "peer perform" rating on the stock. Rosenblatt Securities restated a "buy" rating and set a $70.00 price target on shares of IonQ in a research note on Monday, September 15th. Cantor Fitzgerald raised their price target on IonQ from $45.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Sanford C. Bernstein initiated coverage on IonQ in a research note on Wednesday, July 30th. They set a "market perform" rating on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of IonQ in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $58.33.

Insiders Place Their Bets

In related news, CEO Masi Niccolo De sold 16,120 shares of IonQ stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 1,181,186 shares of the company's stock, valued at approximately $52,444,658.40. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thomas G. Kramer sold 64,578 shares of IonQ stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total value of $2,700,651.96. Following the transaction, the chief financial officer directly owned 473,302 shares of the company's stock, valued at approximately $19,793,489.64. This represents a 12.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,876 shares of company stock worth $7,930,390. Corporate insiders own 5.20% of the company's stock.

IonQ Price Performance

IONQ opened at $63.01 on Friday. The business has a 50 day simple moving average of $56.14 and a 200-day simple moving average of $43.16. The stock has a market capitalization of $18.70 billion, a P/E ratio of -31.35 and a beta of 2.60. IonQ, Inc. has a 12 month low of $12.56 and a 12 month high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.57). The business had revenue of $20.69 million during the quarter, compared to analyst estimates of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The firm's quarterly revenue was up 81.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) earnings per share. Research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

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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