IonQ, Inc. (NYSE:IONQ) Stock Position Increased by Capital Advisors Inc. OK

Capital Advisors Inc. OK lifted its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 470,266 shares of the company's stock after buying an additional 15,962 shares during the quarter. Capital Advisors Inc. OK owned 0.21% of IonQ worth $10,379,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in IonQ by 1,310.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after purchasing an additional 2,293,231 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of IonQ in the 4th quarter worth approximately $29,519,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of IonQ in the 4th quarter worth approximately $29,513,000. Invesco Ltd. grew its position in shares of IonQ by 439.3% in the 4th quarter. Invesco Ltd. now owns 857,078 shares of the company's stock worth $35,800,000 after acquiring an additional 698,146 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of IonQ by 475.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company's stock worth $28,771,000 after acquiring an additional 569,061 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Price Performance

NYSE:IONQ traded up $0.43 during midday trading on Thursday, reaching $45.99. 19,455,746 shares of the company traded hands, compared to its average volume of 19,823,729. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of -30.87 and a beta of 2.55. The company has a fifty day moving average price of $38.76 and a 200 day moving average price of $34.13.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. 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 for the company. Morgan Stanley lifted their target price on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. DA Davidson decreased their target price on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Benchmark lifted their target price on IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of IonQ in a research report on Wednesday, June 11th. Two investment 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, IonQ currently has an average rating of "Moderate Buy" and a consensus target price of $41.43.

Insider Activity

In other IonQ news, insider Peter Hume Chapman sold 1,497,311 shares of IonQ stock in a transaction on Friday, June 20th. The stock was sold at an average price of $39.93, for a total transaction of $59,787,628.23. Following the sale, the insider owned 390,329 shares of the company's stock, valued at $15,585,836.97. The trade was a 79.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas G. Kramer sold 72,000 shares of IonQ stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.26, for a total value of $3,042,720.00. Following the sale, the chief financial officer directly owned 646,516 shares in the company, valued at $27,321,766.16. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,094,201 shares of company stock worth $355,891,729 over the last ninety days. 5.20% of the stock is currently owned by company insiders.

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.