Visionary Wealth Advisors Makes New $567,000 Investment in IonQ, Inc. (NYSE:IONQ)

Visionary Wealth Advisors acquired a new position in IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,566 shares of the company's stock, valued at approximately $567,000.

Several other large investors have also made changes to their positions in the business. PDS Planning Inc raised its stake in shares of IonQ by 2.6% during the 4th quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after buying an additional 300 shares during the period. Mariner LLC raised its stake in shares of IonQ by 0.6% during the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after buying an additional 350 shares during the period. Allworth Financial LP raised its stake in shares of IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after buying an additional 363 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 501 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in IonQ in the 4th quarter valued at $26,000. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Stock Up 0.7%

Shares of IONQ opened at $35.34 on Wednesday. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The company has a market capitalization of $7.88 billion, a PE ratio of -43.63 and a beta of 2.46. The stock has a fifty day simple moving average of $26.77 and a two-hundred day simple moving average of $31.43.

IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. During the same period last year, the company earned ($0.19) EPS. The company's revenue for the quarter was down .2% on a year-over-year basis. As a group, equities analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on IONQ. Morgan Stanley increased their price objective on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Needham & Company LLC reduced their price objective on IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. DA Davidson reduced their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Benchmark reduced their price objective on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, IonQ has an average rating of "Moderate Buy" and an average price target of $38.33.

Insiders Place Their Bets

In other IonQ news, Director William F. Scannell acquired 93,066 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the transaction, the director now owns 135,047 shares of the company's stock, valued at $2,945,375.07. This trade represents a 221.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Rima Alameddine sold 1,407 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the sale, the executive now directly owns 592,615 shares of the company's stock, valued at $12,563,438. The trade was a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,033,166 shares of company stock valued at $38,059,593 in the last three months. 11.60% of the stock is currently owned by insiders.

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.

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