Capital Advisors Inc. OK Sells 114,731 Shares of IonQ, Inc. $IONQ

Key Points

• Capital Advisors Inc. OK reduced its stake in IonQ, Inc. by 24.4%, selling 114,731 shares during the second quarter, bringing its total holdings to 355,535 shares valued at approximately $15.3 million.
• Institutional investors now own 41.42% of IonQ's stock, with notable increases from firms like Deutsche Bank AG and Connor Clark & Lunn Investment Management.
• IonQ stock has experienced significant fluctuations, with a twelve-month low of $8.85 and a high of $76.13, while the company reported a revenue increase of 81.6% year-over-year despite a negative earnings per share of ($0.70).

Capital Advisors Inc. OK lowered its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 24.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 355,535 shares of the company's stock after selling 114,731 shares during the quarter. Capital Advisors Inc. OK owned about 0.14% of IonQ worth $15,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IONQ. Nuveen LLC acquired a new position in IonQ in the 1st quarter valued at $12,193,000. Deutsche Bank AG grew its position in IonQ by 255.8% in the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company's stock worth $16,797,000 after purchasing an additional 547,155 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in IonQ by 101.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company's stock worth $20,476,000 after purchasing an additional 467,084 shares during the last quarter. UNICOM Systems Inc. grew its position in IonQ by 77.4% in the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company's stock worth $16,970,000 after purchasing an additional 335,429 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in IonQ in the 1st quarter worth $5,678,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Masi Niccolo De sold 16,120 shares of IonQ stock in a transaction dated Thursday, September 11th. The shares were 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 $52,444,658.40. This trade represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas G. Kramer sold 64,578 shares of IonQ stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $41.82, for a total transaction of $2,700,651.96. Following the transaction, the chief financial officer directly owned 473,302 shares of the company's stock, valued at $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. Insiders sold a total of 229,047 shares of company stock worth $10,293,891 over the last ninety days. Corporate insiders own 5.20% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of IonQ in a research report on Wednesday, July 30th. They issued a "market perform" rating on the stock. Cantor Fitzgerald raised their price target on shares of IonQ from $45.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Rosenblatt Securities restated a "buy" rating and issued a $70.00 price target on shares of IonQ in a research report on Monday, September 15th. Needham & Company LLC raised their price target on shares of IonQ from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Wolfe Research started coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a "peer perform" rating on the stock. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, IonQ presently has an average rating of "Hold" and a consensus price target of $58.33.

IonQ Stock Performance

Shares of IonQ stock opened at $73.17 on Monday. The firm's 50-day simple moving average is $49.39 and its 200-day simple moving average is $39.90. IonQ, Inc. has a twelve month low of $8.85 and a twelve month high of $76.13. The firm has a market cap of $21.72 billion, a P/E ratio of -36.40 and a beta of 2.60.

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

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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