Cambridge Investment Research Advisors Inc. Buys 47,937 Shares of IonQ, Inc. (NYSE:IONQ)

Cambridge Investment Research Advisors Inc. boosted its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 42.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,094 shares of the company's stock after buying an additional 47,937 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.07% of IonQ worth $3,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PDS Planning Inc increased its position in shares of IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock valued at $494,000 after acquiring an additional 300 shares in the last quarter. Mariner LLC boosted its holdings in IonQ by 0.6% in the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after purchasing an additional 350 shares during the last quarter. Future Financial Wealth Managment LLC grew its position in IonQ by 50.0% in the 1st 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 during the period. Miracle Mile Advisors LLC grew its position in IonQ by 2.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock worth $452,000 after purchasing an additional 500 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after buying an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Stock Down 2.2%

Shares of NYSE:IONQ opened at $40.23 on Monday. The business's 50 day moving average is $36.08 and its 200 day moving average is $33.82. The stock has a market cap of $10.53 billion, a P/E ratio of -27.00 and a beta of 2.59. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The business had revenue of $7.57 million for the quarter, compared to analysts' expectations of $7.51 million. During the same quarter last year, the firm earned ($0.19) EPS. The business's revenue for the quarter was down .2% on a year-over-year basis. On average, sell-side analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IONQ. Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of IonQ in a research note on Wednesday, June 11th. DA Davidson cut their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Benchmark reaffirmed a "buy" rating and issued a $50.00 price objective on shares of IonQ in a research note on Wednesday, June 25th. Finally, Morgan Stanley upped their price target on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Insider Buying and Selling at IonQ

In other news, insider Peter Hume Chapman sold 11,965 shares of IonQ stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $41.60, for a total value of $497,744.00. Following the sale, the insider now owns 390,329 shares in the company, valued at $16,237,686.40. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Masi Niccolo De sold 2,597,500 shares of IonQ stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total transaction of $104,783,150.00. Following the sale, the chief executive officer now directly owns 711,987 shares in the company, valued at approximately $28,721,555.58. This trade represents a 78.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,972,201 shares of company stock worth $350,540,009. Insiders own 5.20% of the company's stock.

IonQ 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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