Intech Investment Management LLC Buys 26,085 Shares of IonQ, Inc. $IONQ

Intech Investment Management LLC increased its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 26.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 124,920 shares of the company's stock after acquiring an additional 26,085 shares during the quarter. Intech Investment Management LLC owned about 0.06% of IonQ worth $2,757,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cetera Investment Advisers lifted its position in IonQ by 120.0% during the fourth quarter. Cetera Investment Advisers now owns 34,033 shares of the company's stock valued at $1,422,000 after purchasing an additional 18,566 shares during the last quarter. GAMMA Investing LLC lifted its position in IonQ by 4,683.1% during the first quarter. GAMMA Investing LLC now owns 54,336 shares of the company's stock valued at $1,199,000 after purchasing an additional 53,200 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in IonQ by 54.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,735 shares of the company's stock valued at $203,000 after purchasing an additional 3,068 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in IonQ by 15.7% during the first quarter. Stratos Wealth Partners LTD. now owns 20,740 shares of the company's stock valued at $458,000 after purchasing an additional 2,814 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in IonQ by 6.6% during the first quarter. Rhumbline Advisers now owns 323,930 shares of the company's stock valued at $7,149,000 after purchasing an additional 20,127 shares during the last quarter. Institutional investors own 41.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IONQ. Benchmark increased their price objective on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Wolfe Research began coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a "peer perform" rating on the stock. Rosenblatt Securities began coverage on shares of IonQ in a research note on Tuesday, July 29th. They issued a "buy" rating and a $70.00 target price on the stock. DA Davidson downgraded shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 target price on the stock. in a research note on Thursday, August 7th. Finally, Oppenheimer began coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued an "outperform" rating on the stock. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, IonQ has a consensus rating of "Moderate Buy" and a consensus target price of $46.78.

IonQ Stock Performance

NYSE IONQ opened at $55.72 on Monday. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of -27.72 and a beta of 2.54. The company's 50-day simple moving average is $42.33 and its two-hundred day simple moving average is $35.13. IonQ, Inc. has a one year low of $7.40 and a one year high of $56.07.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $17.23 million. During the same quarter in the prior year, the business posted ($0.18) earnings per share. The firm's quarterly revenue was up 81.6% on a year-over-year basis. Equities analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 64,578 shares of IonQ stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 473,302 shares in the company, valued at approximately $19,793,489.64. The trade was a 12.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Masi Niccolo De sold 16,120 shares of IonQ stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $715,728.00. Following the sale, the chief executive officer owned 1,181,186 shares of the company's stock, valued at approximately $52,444,658.40. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,750,325 shares of company stock worth $109,397,784 over the last ninety days. Company 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.

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