IonQ, Inc. $IONQ Shares Sold by Murchinson Ltd.

Key Points

• Murchinson Ltd. reduced its holdings in IonQ, Inc. by 32.9% in Q1, ending the period with 50,000 shares worth over $1 million.
• Insiders, including the CFO and CRO, have sold significant amounts of stock recently, with over 9.2 million shares sold in the past ninety days.
• Analysts have rated IonQ with a consensus rating of "Moderate Buy", with varying price targets averaging around $46.78.

Murchinson Ltd. cut its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 32.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the company's stock after selling 24,500 shares during the quarter. Murchinson Ltd.'s holdings in IonQ were worth $1,104,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its position in IonQ by 348.0% during the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after acquiring an additional 870 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in IonQ during the 4th quarter worth approximately $27,000. Future Financial Wealth Managment LLC lifted its position in IonQ by 50.0% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after acquiring an additional 500 shares during the period. Farther Finance Advisors LLC lifted its position in IonQ by 780.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after acquiring an additional 1,295 shares during the period. Finally, Close Asset Management Ltd acquired a new stake in IonQ during the 1st quarter worth approximately $35,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CRO Rima Alameddine sold 65,000 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $38.57, for a total value of $2,507,050.00. Following the completion of the transaction, the executive directly owned 552,592 shares in the company, valued at approximately $21,313,473.44. This represents a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas G. Kramer sold 216,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $38.11, for a total value of $8,231,760.00. Following the completion of the transaction, the chief financial officer owned 718,516 shares of the company's stock, valued at $27,382,644.76. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,274,204 shares of company stock valued at $363,954,375. 5.20% of the stock is owned by company insiders.

Analyst Ratings Changes

IONQ has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on IonQ in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price objective for the company. Rosenblatt Securities initiated coverage on IonQ in a research report on Tuesday, July 29th. They set a "buy" rating and a $70.00 price objective for the company. Oppenheimer initiated coverage on IonQ in a research report on Wednesday, July 30th. They set an "outperform" rating for the company. Sanford C. Bernstein initiated coverage on IonQ in a research report on Wednesday, July 30th. They set a "market perform" rating for the company. Finally, B. Riley began coverage on IonQ in a research report on Wednesday, August 27th. They set a "buy" rating and a $61.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.78.

IonQ Stock Performance

IonQ stock opened at $41.78 on Friday. The stock has a fifty day moving average of $42.02 and a two-hundred day moving average of $34.53. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of -20.79 and a beta of 2.54. IonQ, Inc. has a fifty-two week low of $6.54 and a fifty-two week high of $54.74.

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

IonQ 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.