Prime Capital Investment Advisors LLC Makes New Investment in IonQ, Inc. $IONQ

Key Points

• Prime Capital Investment Advisors LLC has invested approximately $244,000 in IonQ by purchasing 5,670 shares in the second quarter, according to a recent SEC filing.
• IonQ's stock has seen a range of analyst ratings, with seven analysts rating it as a buy, five as a hold, and two as a sell, reflecting mixed sentiments in the investment community.
• The company's stock reported a significant earnings miss for the last quarter, with an EPS of ($0.70) compared to the expected ($0.13), while its revenue surged 81.6% year-over-year.

Prime Capital Investment Advisors LLC purchased a new position in IonQ, Inc. (NYSE:IONQ - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,670 shares of the company's stock, valued at approximately $244,000.

Several other institutional investors have also added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in IonQ by 20.7% in the first quarter. Signaturefd LLC now owns 4,048 shares of the company's stock worth $89,000 after acquiring an additional 694 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in IonQ by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company's stock worth $36,000 after acquiring an additional 808 shares in the last quarter. ORG Partners LLC boosted its holdings in IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after acquiring an additional 870 shares in the last quarter. Allworth Financial LP boosted its holdings in IonQ by 33.7% in the first quarter. Allworth Financial LP now owns 3,682 shares of the company's stock worth $81,000 after acquiring an additional 929 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in IonQ by 6.3% in the first quarter. Xponance Inc. now owns 15,741 shares of the company's stock worth $347,000 after acquiring an additional 935 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IONQ. Weiss Ratings restated a "sell (d-)" rating on shares of IonQ in a research note on Wednesday, October 8th. Cantor Fitzgerald raised their price objective on IonQ from $45.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. B. Riley raised their price objective on IonQ from $75.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Rosenblatt Securities restated a "buy" rating and issued a $70.00 price objective on shares of IonQ in a research note on Monday, September 15th. Finally, Wolfe Research began coverage on IonQ in a research note on Wednesday, July 30th. They issued a "peer perform" rating for the company. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, IonQ currently has an average rating of "Hold" and a consensus price target of $58.33.

Insider Activity at IonQ

In related news, CEO Masi Niccolo De sold 16,120 shares of IonQ stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $715,728.00. Following the completion of the transaction, the chief executive officer directly owned 1,181,186 shares in the company, valued at approximately $52,444,658.40. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul T. Dacier sold 4,175 shares of IonQ stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the transaction, the insider owned 114,454 shares of the company's stock, valued at approximately $5,081,757.60. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,876 shares of company stock valued at $7,930,390 in the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

IonQ Trading Down 8.5%

Shares of IONQ stock opened at $70.88 on Monday. The stock has a 50 day moving average of $53.00 and a 200 day moving average of $41.71. The stock has a market cap of $21.04 billion, a P/E ratio of -35.26 and a beta of 2.60. IonQ, Inc. has a twelve month low of $9.62 and a twelve month high of $82.97.

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

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