Wealth Enhancement Advisory Services LLC boosted its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 119.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,330 shares of the company's stock after purchasing an additional 16,522 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in IonQ were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC raised its position in shares of IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock valued at $26,000 after buying an additional 870 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in IonQ by 780.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock valued at $34,000 after acquiring an additional 1,295 shares during the last quarter. Close Asset Management Ltd acquired a new position in IonQ in the 1st quarter valued at $35,000. SVB Wealth LLC acquired a new position in IonQ in the 1st quarter valued at $35,000. Finally, Golden State Wealth Management LLC increased its stake in IonQ by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company's stock valued at $36,000 after purchasing an additional 808 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Oppenheimer started coverage on IonQ in a research note on Wednesday, July 30th. They issued an "outperform" rating for the company. Needham & Company LLC upped 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. DA Davidson lowered shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price target for the company. in a research report on Thursday, August 7th. B. Riley upped their price target on shares of IonQ from $75.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, Sanford C. Bernstein assumed coverage on IonQ in a report on Wednesday, July 30th. They set a "market perform" rating for the company. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.33.
Read Our Latest Analysis on IONQ
IonQ Price Performance
Shares of IonQ stock opened at $61.37 on Wednesday. The business has a 50-day moving average of $47.88 and a 200-day moving average of $38.83. The company has a market capitalization of $18.22 billion, a PE ratio of -30.53 and a beta of 2.54. IonQ, Inc. has a 1-year low of $7.99 and a 1-year high of $76.13.
IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $20.69 million for the quarter, compared to analyst estimates of $17.23 million. During the same quarter last year, the business earned ($0.18) EPS. IonQ's revenue for the quarter was up 81.6% compared to the same quarter last year. On average, equities analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.
Insider Activity at IonQ
In other IonQ news, CRO Rima Alameddine sold 45,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $46.18, for a total transaction of $2,078,100.00. Following the completion of the transaction, the executive directly owned 552,592 shares of the company's stock, valued at $25,518,698.56. This trade represents a 7.53% 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, CFO Thomas G. Kramer sold 64,578 shares of IonQ stock in a transaction dated 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 owned 473,302 shares of the company's stock, valued at $19,793,489.64. This trade represents a 12.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,047 shares of company stock worth $12,602,891 over the last 90 days. Company insiders own 5.20% of the company's stock.
About IonQ
(
Free Report)
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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