UNICOM Systems Inc. Has $16.97 Million Stock Position in IonQ, Inc. (NYSE:IONQ)

UNICOM Systems Inc. raised its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 77.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 768,900 shares of the company's stock after acquiring an additional 335,429 shares during the quarter. IonQ comprises approximately 3.5% of UNICOM Systems Inc.'s portfolio, making the stock its 9th biggest holding. UNICOM Systems Inc. owned approximately 0.35% of IonQ worth $16,970,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Measured Risk Portfolios Inc. purchased a new stake in IonQ in the 4th quarter worth approximately $27,000. TD Waterhouse Canada Inc. bought a new position in shares of IonQ in the fourth quarter worth $33,000. Sandy Spring Bank raised its position in shares of IonQ by 350.0% in the fourth quarter. Sandy Spring Bank now owns 900 shares of the company's stock worth $38,000 after buying an additional 700 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in IonQ during the fourth quarter valued at $42,000. Finally, ORG Partners LLC boosted its stake in IonQ by 348.0% during 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 period. Hedge funds and other institutional investors own 41.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Benchmark upped their target price on IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. DA Davidson decreased their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Cantor Fitzgerald began coverage on IonQ in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price target on shares of IonQ in a research report on Wednesday, June 11th. Finally, Morgan Stanley boosted their price target on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, IonQ presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.43.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 65,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $38.57, for a total transaction of $2,507,050.00. Following the completion of the sale, the executive owned 552,592 shares of the company's stock, valued at $21,313,473.44. This trade represents a 10.52% decrease in their ownership of the stock. 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 216,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $38.11, for a total transaction 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 approximately $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. Insiders have sold a total of 9,137,583 shares of company stock worth $357,962,352 over the last quarter. 5.20% of the stock is owned by insiders.

IonQ Stock Up 1.8%

Shares of NYSE IONQ traded up $0.74 on Monday, reaching $42.55. 16,476,376 shares of the company's stock traded hands, compared to its average volume of 23,458,889. The business's 50 day simple moving average is $39.35 and its two-hundred day simple moving average is $33.97. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The company has a market cap of $11.13 billion, a price-to-earnings ratio of -28.55 and a beta of 2.55.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The company had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same quarter last year, the company earned ($0.19) EPS. The firm's revenue for the quarter was down .2% on a year-over-year basis. Analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

About IonQ

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.