Oppenheimer & Co. Inc. Decreases Stock Position in IonQ, Inc. (NYSE:IONQ)

Oppenheimer & Co. Inc. lowered its holdings in IonQ, Inc. (NYSE:IONQ - Free Report) by 41.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,993 shares of the company's stock after selling 66,392 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in IonQ were worth $2,052,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. New York State Common Retirement Fund raised its stake in shares of IonQ by 16.7% during the 4th quarter. New York State Common Retirement Fund now owns 61,481 shares of the company's stock worth $2,568,000 after buying an additional 8,800 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of IonQ by 1,310.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock worth $103,095,000 after buying an additional 2,293,231 shares during the last quarter. Sei Investments Co. acquired a new position in shares of IonQ during the 4th quarter worth $1,255,000. Cetera Investment Advisers raised its stake in shares of IonQ by 120.0% during the 4th quarter. Cetera Investment Advisers now owns 34,033 shares of the company's stock worth $1,422,000 after buying an additional 18,566 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of IonQ by 43.4% during the 4th quarter. Wells Fargo & Company MN now owns 255,061 shares of the company's stock worth $10,654,000 after buying an additional 77,151 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

IonQ Trading Down 2.2%

IONQ traded down $0.89 during midday trading on Friday, hitting $40.23. The company's stock had a trading volume of 21,583,427 shares, compared to its average volume of 19,221,558. The firm has a market cap of $10.53 billion, a P/E ratio of -27.00 and a beta of 2.59. The firm has a 50-day moving average price of $35.80 and a two-hundred day moving average price of $33.71. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

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

Insider Buying and Selling at IonQ

In other news, insider Peter Hume Chapman sold 910,740 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $37.78, for a total transaction of $34,407,757.20. Following the completion of the sale, the insider now owns 390,329 shares in the company, valued at approximately $14,746,629.62. The trade was a 70.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wendy Thomas sold 16,696 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $39.43, for a total value of $658,323.28. Following the sale, the director now 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 8,972,201 shares of company stock worth $350,540,009 in the last 90 days. 5.20% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.