GM Advisory Group LLC Takes Position in IonQ, Inc. $IONQ

Key Points

• GM Advisory Group LLC opened a new position in IonQ during the first quarter, buying 10,250 shares worth about $296,000.
• Several other institutional investors also increased their IonQ holdings, and institutional ownership now stands at 41.42% of the stock.
• Insiders were net sellers recently: John W. Raymond and Kathryn K. Chou sold shares on June 18, contributing to 13,102 shares sold by insiders over the past three months.

GM Advisory Group LLC acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,250 shares of the company's stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IONQ. Lauer Wealth LLC increased its holdings in shares of IonQ by 5.3% in the 4th quarter. Lauer Wealth LLC now owns 5,107 shares of the company's stock worth $229,000 after purchasing an additional 255 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock valued at $31,000 after purchasing an additional 270 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of IonQ by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company's stock valued at $36,000 after buying an additional 279 shares during the last quarter. Letson Investment Management Inc. boosted its position in shares of IonQ by 2.6% during the fourth quarter. Letson Investment Management Inc. now owns 12,619 shares of the company's stock valued at $566,000 after buying an additional 319 shares during the last quarter. Finally, Root Financial Partners LLC boosted its position in shares of IonQ by 22.9% during the first quarter. Root Financial Partners LLC now owns 1,725 shares of the company's stock valued at $50,000 after buying an additional 321 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider John W. Raymond sold 3,815 shares of IonQ stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $209,863.15. Following the completion of the transaction, the insider owned 80,148 shares in the company, valued at approximately $4,408,941.48. The trade was a 4.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn K. Chou sold 2,757 shares of IonQ stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.02, for a total transaction of $151,690.14. Following the transaction, the director directly owned 62,608 shares of the company's stock, valued at $3,444,692.16. The trade was a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 13,102 shares of company stock worth $701,489. Insiders own 0.55% of the company's stock.

IonQ Stock Performance

Shares of IONQ stock opened at $48.92 on Tuesday. The stock has a fifty day simple moving average of $55.58 and a two-hundred day simple moving average of $45.06. The firm has a market capitalization of $18.26 billion, a PE ratio of -174.71 and a beta of 3.23. IonQ, Inc. has a 52-week low of $25.89 and a 52-week high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The company had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The company's quarterly revenue was up 754.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, sell-side analysts forecast that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Analyst Ratings Changes

IONQ has been the subject of several research reports. Weiss Ratings raised shares of IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Jefferies Financial Group set a $85.00 target price on shares of IonQ in a report on Thursday, May 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 target price on shares of IonQ in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of IonQ from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 13th. Finally, Wedbush reissued an "outperform" rating and set a $60.00 price target on shares of IonQ in a report on Monday, May 4th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.88.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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