Cookson Peirce & Co. Inc. Purchases 18,124 Shares of IonQ, Inc. $IONQ

Key Points

• Cookson Peirce & Co. Inc. increased its holdings in IonQ, Inc. by 21.5%, buying an additional 18,124 shares, bringing their total shares owned to 102,466 worth approximately $4.4 million.
• IonQ recently reported a quarterly earnings miss, with an EPS of ($0.70), missing estimates by ($0.57), though revenue increased 81.6% year-over-year.
• Insider trades included CFO Thomas G. Kramer selling 64,578 shares and insider Paul T. Dacier selling 4,175 shares, with total insider sales amounting to $5.67 million in the last 90 days.

Cookson Peirce & Co. Inc. increased its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 21.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,466 shares of the company's stock after buying an additional 18,124 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in IonQ were worth $4,403,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IONQ. Farther Finance Advisors LLC grew its holdings in shares of IonQ by 780.1% during the first quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after buying an additional 1,295 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of IonQ by 116.7% during the first quarter. GAMMA Investing LLC now owns 2,462 shares of the company's stock worth $54,000 after buying an additional 1,326 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of IonQ by 60.2% during the first quarter. SG Americas Securities LLC now owns 12,818 shares of the company's stock worth $283,000 after buying an additional 4,818 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of IonQ by 32.4% during the first quarter. Janney Montgomery Scott LLC now owns 27,476 shares of the company's stock worth $606,000 after buying an additional 6,717 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its position in IonQ by 91.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 9,385 shares of the company's stock valued at $207,000 after purchasing an additional 4,485 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IonQ

In other IonQ news, 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 completion of the transaction, the chief financial officer directly owned 473,302 shares of the company's stock, valued at $19,793,489.64. The trade was a 12.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul T. Dacier sold 4,175 shares of IonQ stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the transaction, the insider owned 114,454 shares in the company, valued at approximately $5,081,757.60. The trade was a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,398 shares of company stock worth $5,665,690 in the last 90 days. Company insiders own 5.20% of the company's stock.

IonQ Trading Down 0.6%

Shares of NYSE IONQ opened at $59.57 on Wednesday. The company has a market capitalization of $17.68 billion, a P/E ratio of -29.64 and a beta of 2.60. The stock has a 50 day moving average of $56.77 and a 200-day moving average of $43.81. IonQ, Inc. has a 12 month low of $13.89 and a 12 month high of $84.64.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on IONQ shares. Oppenheimer started coverage on IonQ in a research report on Wednesday, July 30th. They set an "outperform" rating for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of IonQ in a research report on Wednesday, October 8th. Benchmark increased their price target on IonQ from $55.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Sanford C. Bernstein initiated coverage on IonQ in a research report on Wednesday, July 30th. They issued a "market perform" rating for the company. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $70.00 target price on shares of IonQ in a research note on Monday, September 15th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, IonQ has a consensus rating of "Hold" and an average price target of $58.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.