Scientech Research LLC Buys New Holdings in IonQ, Inc. $IONQ

Key Points

• Scientech Research LLC has acquired a new position in IonQ, Inc., purchasing 46,879 shares valued at approximately $1.04 million during the first quarter.
• Several hedge funds significantly increased their stakes in IonQ, with ORG Partners LLC growing its holdings by 348% to own 1,120 shares worth $26,000.
• IonQ has received positive attention from analysts, with seven providing a buy rating and a consensus price target of $46.78, despite reporting a wider-than-expected loss in its recent earnings.

Scientech Research LLC acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 46,879 shares of the company's stock, valued at approximately $1,035,000.

Several other large investors also recently made changes to their positions in the business. Measured Risk Portfolios Inc. acquired a new stake in IonQ during the 4th quarter worth about $27,000. Virtus Fund Advisers LLC acquired a new stake in IonQ during the 4th quarter worth about $42,000. ORG Partners LLC raised its holdings 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 buying an additional 870 shares during the period. Farther Finance Advisors LLC raised its holdings 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 buying an additional 1,295 shares during the period. Finally, Future Financial Wealth Managment LLC raised its holdings 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 buying an additional 500 shares during the period. Institutional investors own 41.42% of the company's stock.

IonQ Stock Performance

Shares of IonQ stock traded down $0.08 on Wednesday, reaching $43.92. The stock had a trading volume of 13,088,085 shares, compared to its average volume of 22,028,939. The business's 50-day moving average price is $42.05 and its two-hundred day moving average price is $34.67. IonQ, Inc. has a fifty-two week low of $6.80 and a fifty-two week high of $54.74. The stock has a market cap of $13.04 billion, a P/E ratio of -21.85 and a beta of 2.54.

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

Analyst Ratings Changes

Several research firms have issued reports on IONQ. Sanford C. Bernstein initiated coverage on IonQ in a report on Wednesday, July 30th. They set a "market perform" rating on the stock. Cantor Fitzgerald assumed coverage on shares of IonQ in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 price target for the company. DA Davidson downgraded shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research note on Thursday, August 7th. B. Riley began coverage on IonQ in a research report on Wednesday, August 27th. They issued a "buy" rating and a $61.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of IonQ in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.78.

Insider Activity at IonQ

In other news, Director Kathryn K. Chou sold 6,789 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $43.14, for a total value of $292,877.46. Following the sale, the director owned 60,839 shares in the company, valued at approximately $2,624,594.46. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Rima Alameddine sold 45,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $46.18, for a total value of $2,078,100.00. Following the transaction, the executive owned 552,592 shares in the company, valued at $25,518,698.56. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,588,943 shares of company stock worth $255,557,774. Insiders own 5.20% of the company's stock.

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.