McGuire Investment Group LLC Buys 63,493 Shares of IonQ, Inc. (NYSE:IONQ)

McGuire Investment Group LLC grew its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 976.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,993 shares of the company's stock after buying an additional 63,493 shares during the quarter. McGuire Investment Group LLC's holdings in IonQ were worth $1,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. ORG Partners LLC raised its position in IonQ by 348.0% in the 1st 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. Smartleaf Asset Management LLC boosted its position in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after acquiring an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of IonQ during the 4th quarter worth approximately $27,000. TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ in the fourth quarter valued at approximately $33,000. Finally, Future Financial Wealth Managment LLC lifted its position in shares of IonQ by 50.0% in the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity

In other IonQ news, insider Peter Hume Chapman sold 3,581,193 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $38.13, for a total value of $136,550,889.09. Following the transaction, the insider now directly owns 390,329 shares in the company, valued at $14,883,244.77. The trade was a 90.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendy Thomas sold 16,696 shares of IonQ stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $39.43, for a total transaction of $658,323.28. Following the sale, the director now directly owns 61,145 shares of the company's stock, valued at $2,410,947.35. The trade was a 21.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,972,201 shares of company stock valued at $350,540,009 over the last three months. Insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on IONQ. Morgan Stanley increased their target price on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. DA Davidson reduced their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Needham & Company LLC restated a "buy" rating and issued a $50.00 price objective on shares of IonQ in a report on Wednesday, June 11th. Finally, Benchmark reaffirmed a "buy" rating and issued a $50.00 target price on shares of IonQ in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

IonQ Trading Down 2.2%

NYSE IONQ opened at $40.23 on Friday. The firm has a market capitalization of $10.53 billion, a P/E ratio of -27.00 and a beta of 2.59. The firm's fifty day moving average price is $36.08 and its two-hundred day moving average price is $33.79. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same period in the previous year, the business earned ($0.19) EPS. IonQ's revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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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