Capital Advisors Inc. OK Acquires 15,962 Shares of IonQ, Inc. (NYSE:IONQ)

Capital Advisors Inc. OK boosted its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,266 shares of the company's stock after purchasing an additional 15,962 shares during the period. Capital Advisors Inc. OK owned approximately 0.21% of IonQ worth $10,379,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PDS Planning Inc grew its stake in IonQ by 2.6% in the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after purchasing an additional 300 shares in the last quarter. Mariner LLC raised its holdings in shares of IonQ by 0.6% during the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after buying an additional 350 shares during the last quarter. Future Financial Wealth Managment LLC increased 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 valued at $33,000 after acquiring an additional 500 shares during the period. Miracle Mile Advisors LLC increased its stake in shares of IonQ by 2.5% during the first quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock valued at $452,000 after acquiring an additional 500 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares during the period. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Benchmark lifted their price target on shares of IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday. Cantor Fitzgerald assumed coverage on shares of IonQ in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of IonQ in a research report on Wednesday, June 11th. DA Davidson lowered their price objective on shares of 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 price objective 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.43.

IonQ Stock Down 0.2%

Shares of NYSE:IONQ traded down $0.11 during trading on Tuesday, reaching $45.09. 25,629,265 shares of the company traded hands, compared to its average volume of 19,743,438. The firm has a fifty day simple moving average of $38.06 and a 200 day simple moving average of $33.97. The firm has a market cap of $11.80 billion, a P/E ratio of -30.26 and a beta of 2.55. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data 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 net margin of 753.20% and a negative return on equity of 63.35%. The business had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same quarter in the previous year, the business earned ($0.19) EPS. IonQ's quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Activity

In other IonQ news, CEO Masi Niccolo De sold 2,597,500 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $40.34, for a total transaction of $104,783,150.00. Following the completion of the transaction, the chief executive officer owned 711,987 shares of the company's stock, valued at $28,721,555.58. The trade was a 78.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn K. Chou sold 25,696 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.46, for a total transaction of $1,039,660.16. Following the transaction, the director directly owned 62,115 shares of the company's stock, valued at $2,513,172.90. This represents a 29.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,094,201 shares of company stock worth $355,891,729. Insiders own 5.20% of the company's stock.

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.